One United Properties, Ennismore to open Mondrian Lodge in Bucharest

November 17 (SeeNews) – Romanian actual property developer One United Properties [BVB:ONE] mentioned that it has signed a memorandum of understanding (MoU) with world hospitality firm Ennismore to open a lodge beneath the Mondrian model in downtown Bucharest.

Mondrian shall be situated close to the Romanian Athenaeum, the place One United Properties beforehand purchased an unfinished constructing with the intention to show it right into a lodge, the true property developer mentioned in a press launch on Tuesday.

In December, One United Properties introduced that it will make investments 48 million euro ($52.2 million) in repurposing an deserted constructing within the historic centre of Bucharest right into a five-star lodge known as One Plaza Athenee. The developer had acquired the constructing for 13.5 million euro.

“This shall be a major milestone in redefining luxurious and the lodge panorama in Bucharest and marks our firm’s debut on the hospitality market. Mondrian Bucharest will develop into for certain a landmark for the town and can assist improve tourism to our capital and to our nation,” Victor Capitanu, Co-CEO of One United Properties, mentioned.

As of 2021, the Mondrian model of motels has been managed by Ennismore, in a three way partnership with French hospitality group Accor. Mondrian is current in Los Angeles, New York, South Miami Seaside, Doha, Cannes, London, Bordeaux, Singapore, Mexico Metropolis, Ibiza and Seoul, and can open quickly in Australia’s Gold Coast and Hong Kong.

One United Property shares traded 0.1% larger at 0.985 lei ($0.2153/0.1981 euro) as at 1611 CET on the Bucharest Inventory Trade.

($=0.9203 euro)

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