InterContinental Romania has finalised the hotel operating contract with IHG Hotel & Resorts so the name of the property in central Bucharest will be changed to Grand Hotel Bucharest.
The five-star hotel will be refurbished by 2024 as part of a €21M investment and will be positioned as a luxury project.
Lucian Marinescu, Administration Board Member, said that the hotel will remain open while the upgrade works are under way. He added that the most recent refurbishment of the hotel was carried out in 2008.
“The financing sources are the company’s own funds, and we might need a bank loan,” said Marinescu.
The hotel has 22 floors, 257 rooms and apartments, a lounge club, a spa centre, two restaurants and around 1,500sq m of spaces for conferences.
