Corinthia Hotels is set to expand its five-star hotel portfolio with the opening of a new luxury property in Bucharest, Romania. Located in the heart of the capital, the former Grand Hotel du Boulevard will open its doors again on December 1, 2019, to coincide with Romania’s National Day.
Built in 1867, the listed building was last used as a hotel over a decade ago and will now undergo extensive refurbishment to sit in line with the signature standards of timeless luxury and style associated with Corinthia.
Corinthia Grand Hotel du Boulevard Bucharest will offer over 50 rooms and suites, exquisite dining options, a grand ballroom, boutique meeting spaces, and luxury amenities.
The hotel follows Corinthia’s tradition of restoring 19th century grand hotels across Europe. The award-winning Corinthia Hotel London, Corinthia Hotel Budapest, formerly the Grand Hotel Royal, and Corinthia Hotel St Petersburg, Russia, are all 19th century landmark properties which have been acquired, redeveloped and relaunched by Corinthia Hotels. In Brussels, the former Grand Hotel Astoria was acquired in 2016 and works are currently underway to transform the property back to its original splendor.
In Bucharest, Corinthia Hotels’ role will be that of operator under terms of a management agreement signed on the March 5, 2018, with owning company NIRO Investment Group.
QP Management, a sister company of the Corinthia Hotels group, will support the developers with project management and cost management services. Works on the refurbishment are expected to commence in Q2 2018.
The transaction was advised by Beaufort Global, a leading Investment, Development & Asset Management firm based in Dubai, UAE.
On May 10, 2018, key stakeholders from Corinthia Hotels, NIRO Investment Group, and Beaufort Global Partners, as well as honored guests, will gather for the Corinthia Grand Hotel du Boulevard signing ceremony celebration. The date for the event, the Romanian Monarchy Day, was specifically selected for its historical and cultural significance to the Romanian people.
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The hotel’s lavish ground floor has already been restored to its former glory, boasting sumptuous interiors including a stunning gold and cobalt blue ballroom festooned with Venetian mirrors, gold foil details, blue-veined marble and Bohemian crystal chandeliers. Considered an iconic landmark property in Bucharest, the four-storey building was originally designed by famed Romanian architect Alexandru Orascu, who was also responsible for the design of Bucharest’s University, and is classed as a monument of Culture and Architecture by the Ministry of Culture. Sitting at the crossroads of Calea Victoriei and Bulevardul Elisabeta, the hotel was at the core of Bucharest’s social scene for many years and will regain its position at the forefront of the city’s luxury hospitality.
ABOUT CORINTHIA HOTELS
Corinthia is a collection of luxury five-star hotels founded by the Pisani family of Malta in 1962. Since 2000, Corinthia has evolved into a multifaceted public company, trading as International Hotel Investments plc, which is the owner, developer or operator of each Corinthia Hotel and commercial real estate worldwide. Guided by family values and inspired by the core principles underpinning the Spirit of Corinthia, the company’s focus is on ensuring craftsmanship in the hospitality world and delivering honest, discreet service. For more information, visit corinthia.com or visit Twitter @CorinthiaHotels or Instagram@corinthiahotels
ABOUT NIRO INVESTMENT GROUP
NIRO Investment Group is a fully privately owned Romanian group of companies with over 20 years of expertise in investments, development and asset management. The group, acting as business concept developer, investor, general entrepreneur and facility manager, has a portfolio of developed projects spanning over 500,000 square meters built and amounting to over €400,000,000. Among the projects developed and managed by NIRO Investment Group are the largest commercial hub in Eastern Europe, office buildings, residential projects, and hotels. For more information, visit http://nirogroup.ro/
ABOUT BEAUFORT GLOBAL
Beaufort Global is an investment, development and asset management firm, with a focus in hospitality real estate for hotels, resorts, commercial, residential, infrastructure, master-development, mixed-use and governmental initiatives. Founded in Dubai, UAE it has, over many years, established relationships of trust at the highest levels of government as well as private and public sector enterprises for the execution of global mandates on results-oriented delivery. For more information, visit www.beaufortglobal.com