In Romania, hotel performance continued to improve. Overnight stays reached 20 million in 2024, up 2% year-on-year, with Bucharest leading growth at +8%, supported by a 12% rise in international arrivals. Air traffic increased 6% to 26 million passengers, while leisure tourism remained strong in destinations such as Constanța, Brașov and Prahova.

“Romania's hotel market is entering a new growth cycle, supported by healthy demand and a clear shift towards branded projects that raise the bar for quality. Interest from both domestic and international investors is rising, with Bucharest leading the way and regional leisure destinations increasingly on the radar,” said Iulia Szabo, Consultant Investment Properties & Hotels, CBRE Romania.

Hotel investments in Romania have represented 4–8% of overall real estate activity in recent years, with the share showing a steady upward trend. Local investors remain most active in small- and mid-cap transactions, while international investors focus on prime assets and branded hotels in Bucharest and established leisure destinations.

Despite strong demand, Romania's market remains dominated by unbranded hotels, many of which require significant upgrades to meet international standards. Liquidity is lower than in more mature CEE markets, and developers face complex permitting processes. Growth over the next three to five years is expected to be driven by new branded projects, infrastructure upgrades, and rising international arrivals, particularly in Bucharest, on the Black Sea coast and in mountain resorts.

CBRE is currently advising on several ongoing hotel projects in Romania, including new developments and repositioning of existing assets in Bucharest, Brașov and other key leisure markets.