Julius Meinl Living announced the completion of the acquisition of the Ambassador hotel in downtown Bucharest, with an area of ​​12,600 sqm. 

The hotel is to be opened under the name "The Julius Bucharest" in 2027 after an extensive renovation process that will result in 158 luxury rooms and apartments, according to a company press release quoted by Bursa.ro.

Once the necessary permits are obtained, the rehabilitation will take approximately two years. Afterwards, The Julius Bucharest will preserve the essence and character of the existing building. 

Facilities and services will follow the model established by The Julius Prague, including a gourmet food and beverage store under the House of Julius Meinl brand.

As in the case of The Julius Prague, it is intended that The Julius Bucharest be certified according to the LEED Gold standard.

The acquisition of the hotel was carried out in two stages: in the first stage, Julius Meinl Living acquired Ambasador, which owned half of the property and operated as a hotel. Later, in the second stage, Ambasador acquired the other half of the property, which was owned separately.

The Ambassador Hotel is an emblematic Art Deco building in Bucharest, located on General Gheorghe Magheru Boulevard. The property was built shortly before World War II and opened in 1939. The hotel's operations were suspended during World War II and the early years of communism. However, in 1958, hotel operations were resumed and have continued ever since.

iulian@romania-insider.com

(Photo source: Radub85/Dreamstime.com)