Thursday, 30 April 2026
Bucharest recorded the highest growth in hotel revenues among major Central and Eastern European markets in 2025, with revenue per available room (RevPAR) increasing by 12% year-on-year, according to analysis by Cushman & Wakefield.
Across the CEE-6 region, RevPAR rose by 8.9% in 2025, supported by higher average daily rates (ADR) and improved occupancy. Alongside Bucharest, other cities such as Warsaw and Prague also recorded notable growth, while Prague and Budapest remained the strongest markets in absolute RevPAR terms.
Bucharest ranked third among regional capitals for both ADR and RevPAR, behind Prague and Budapest, and fourth in occupancy. Compared with 2019 levels, RevPAR in the Romanian capital is approximately 26% higher, while ADR has increased by more than 27%. Occupancy remains slightly below pre-pandemic levels, although the gap has narrowed.
Growth in 2025 was primarily driven by an increase in room rates, with additional support from improving occupancy levels.
Alina Cazachevici, Partner and Head of Valuation & Advisory, Hospitality & Alternatives, CEE/SEE at Cushman & Wakefield, said: “Bucharest’s hotel market continues to outperform, with total tourist overnights up 6.3% year-on-year and RevPAR exceeding pre-Covid levels by 26.1%, with both local and international overnights exceeding pre-pandemic levels. Nevertheless, political and macroeconomic uncertainty continue to temper investment sentiment and influence pricing expectations. In line with broader CEE trends, the market remains predominantly driven by domestic capital and private sector buyers, while international investors remain disciplined and return oriented.”
The market’s performance is supporting new development activity. More than 2,000 hotel rooms are expected to be delivered in Bucharest by 2028, representing an increase of around 17% in supply across segments ranging from midscale to luxury.
Projects in the pipeline include developments under brands such as Hyatt, Swissotel, Novotel and Radisson Red, alongside mixed-use schemes incorporating hotel components. In 2026, new supply includes the Mercure Bucharest Cantemir and Hilton Garden Inn Militari, adding approximately 165 rooms.
One of the key openings in 2025 was the Corinthia Grand Hotel du Boulevard, located in the city centre, which has contributed to upward pressure on room rates in the capital.
From an investment perspective, Bucharest recorded hotel transaction volumes of approximately EUR 46 million in 2025, representing a significant increase compared with the previous year. Activity was driven by a limited number of transactions, including portfolio deals and individual asset sales across midscale and upscale segments.
At a regional level, hotel investment volumes across CEE increased substantially in 2025, led by activity in the Czech Republic and Hungary. Prime yields in core markets, including Prague, Budapest and Bucharest, showed signs of compression, while other capitals remained relatively stable.
Market participants expect continued activity into 2026, supported by improving financing conditions and ongoing investment processes.
