Romanian hotel group ANA Hotels, owned by local investor George Copos, will invest EUR 20 million, in the next three years, to revamp and expand the Athenee Palace Hilton hotel in downtown Bucharest.

The projects will include a complete revamping of Athenee Palace Hilton’s guest rooms over three years, starting 2017, as well as building a new wing of the hotel with 70 rooms and a 900 seat conference room, on a plot behind the hotel, according to a press release by ANA Hotels.

The investments will be financed by the company’s majority shareholder from the funds and dividends he cashed in from the sale of local electric motor factory ANA Imep Pitesti to Japanese group Nidec, the company announced.

These two projects aim to consolidate Athenee Palace Hilton’s brand on the local hospitality market, according to the company’s representatives. Athenee Palace Hilton is one of the top five-star hotels in Bucharest, as well as one of the oldest. It is located on Calea Victoriei, near the Romanian Athenaeum.

ANA Hotels became the biggest hotel company in Romania, in 2015, reaching a turnover of EUR 28.7 million, up by 14% compared to 2014. It also made a net profit of EUR 3 million, 50% higher compared to the previous year.

Last year, the company went through an intra-group reorganizing process and, at the same time, invested some EUR 4 million in two of its properties: Crowne Plaza hotel in Bucharest and Ana Hotels Sport in Poiana Brasov. The company has continued the investments at Crowne Plaza, where it will inaugurate a Boutique Spa at the end of this year and expand and revamp the conference center at the beginning of 2017.

ANA Hotels was founded in 1996 by George Copos. The company owns seven hotels in Bucharest, Poiana Brasov, and Eforie Nord.

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Andrei Chirileasa, andrei@romania-insider.com