Rock Holding invests EUR 70 million in the first five-star hotel project in Poiana Brasov

by   CIJ News iDesk III
2023-08-09   10:14
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Real estate company Rock Development Holding will invest EUR 70 million in the development of the first five-star luxury hotel project from Poiana Brasov. The new luxury project will consist of a hotel with 120 rooms and an aparthotel with 75 residential units.

”We will develop a reference touristic project, which will put Romania on the map of five-stars mountain destinations in the region and beyond. Thus, we’re opening a new business line for Rock Holding, relying on the experience of the best managers and consultants in the field and having all the confidence in the development of the Poiana Brasov resort, which has all the prerequisites to become in the following years one of the most important mountain destinations in Central and Eastern Europe. The investment is significant, being a large project, with almost 200 units at international standards, and we want the entire complex to be managed by a world-class hotel operator," stated Mircea Cotigă, CEO Rock Development Holding.

The new project will also include all the facilities specific to a five-star tourist complex, including several restaurants and a SPA centre at international standards. The project has fulfilled and gone through all the urban planning formalities and the construction will start in the following period. The new five-star luxury project, according to international classifications, is located in the central area of the Poiana Brasov resort.

The management of the development company is ensured by Mircea Cotiga, a former banker with over 15 years of experience in the local banking sector, ex-CEO of UniCredit Leasing, with the support of Mircea Draghici, managing partner at Est Hospitality, one of the most experienced consultants in the hospitality industry, with over 20 years of experience in the market, from hotel management to carrying out market studies, selection of hotel operators or development strategies.

Rock Development Holding is one of the most important developers active on the superior segment of the residential middle market from Bucharest, with investments of over EUR 53 million in the development of Politehnica Parc Residence and Avrig Park Residence, two reference projects for Grozavesti – Politehnica and Bucur Obor areas from Bucharest, with a total of almost 800 apartments. The company is currently developing the second phase of Avrig Park Residence, with 222 apartments, following an estimated investment of EUR 23 million.