Zeus International, one of Europe’s fastest growing hotel management firms, is pleased to announce that has successfully completed the acquisition of the portfolio of three hotels in Bucharest, Romania.
The three properties are the Venezia, Opera and Central hotels located around the Cișmigiu Gardens near the historic city center (CentruVechi), in the heart of the cultural and commercial area.
Central & Opera hotels, were built during the interwar period and are situated near the iconic city landmarks such as the Palace of the Parliament (formerly the “People’s Palace”), the Romanian Athenian and the National Museum of Art (former “Royal Palace”) in Revolution Square.
Venezia, an architectural masterpiece and an iconic hotel, built in the turn of the twentieth century, is a listed building located at the historic square of Mihail Kogălniceanu.
Zeus International, has moved forward to the acquisition of the three hotels following a successful six-year management which led to an 8-fold GOP growth since September 2015.
“We are very proud for this acquisition that accelerates Zeus International strategic goal on portfolio growth and diversity ” said Haris Siganos, President and CEO of the company, adding that “we aim to further strengthen our presence in the field of hotel management and consulting services in major European cities, focusing on the prospects of increasing profitability and long-term value. We expect to have in Romania the same record of success that we have so far enjoyed from our other properties”
Zeus is pursuing an immediate capex plan for the extensive renovation of the three properties aiming to a leading position of the hotels within the city’s high-end business and leisure segments.