Evolvia Capital investment fund buys an emblematic house near the Historic Center of Bucharest, on Cavafii Vechi Street, for EUR 4 million, in which it will open a boutique hotel.

Built in 1891, the building is a merchant house with a surface area of ​​approximately 1,970 square meters and over 30 rooms.

“This investment reflects our strategy of identifying assets with historical value and urban regeneration potential in premium areas. We aim to bring this property back to contemporary standards, while preserving its architectural identity and cultural relevance for Bucharest,” said Ery Pervulescu, CEO and shareholder of Evolvia Capital.

Source: economica.net

Hotel Galaxy Timișoara has announced its affiliation with the international Radisson Individuals brand. Centrally located, the unit relies on contemporary design and visionary architecture to serve both the business and leisure segments.

According to data provided by Galaxy Timișoara, the hotel features 45 spacious rooms and three premium suites, specifically configured to accommodate extended stays. The hotel’s infrastructure includes all-day dining restaurants, a lobby bar with an outdoor terrace, rooms dedicated to corporate events and meetings, a modern fitness center, and an exclusive spa. Logistically, the property benefits from outdoor parking and a strategic position relative to main transport hubs: seven minutes away from the main train station and 20 minutes from the international airport.

Continental Hotels Group has announced the reopening of the Continental Forum Oradea hotel following an extensive modernization and reconfiguration process, with an investment estimated at approximately EUR 4 million. The project aimed to align the four-star unit with current comfort standards, targeting all 168 rooms as well as the technical infrastructure, common spaces, and operational areas.

Radu Enache, CEO of Continental Hotels, stated that the group’s priority is to consolidate performance and ensure a consistent guest experience, rather than achieving a fixed capital recovery horizon.

With 35 years of experience in the local market, the Continental Hotels group currently operates 12 hotel units, totaling 1,754 rooms in cities such as Bucharest, Arad, Constanta, Oradea, and Sibiu.

The Ibis Styles hotel project in Brașov, which also includes a residential component, has obtained a new building permit for soil stabilization and the continuation of works on a 3,461 sqm plot in the Strada Mică area. The investment, estimated three at EUR 2.5 million, is being developed by the company Kronstadt Hotel on the site of a former sanitation warehouse.

The project’s implementation was interrupted due to the swampy nature of the terrain, which caused massive water infiltration during foundation excavations. The new permit issued by the Brașov City Hall is valid for 12 months and targets specific soil improvement works. The project involves the construction of two attached buildings: one dedicated to a 3-star hotel and another for housing, with the ground floor allocated for offices and services. The general plan also includes access roads, fencing, and utility networks.