Julius Meinl Living announces the completion of the acquisition of the Ambassador Hotel in Bucharest, with an area of 12,600 m2. After an extensive renovation process, the Ambassador Hotel is to be opened under the name “The Julius Bucharest” in 2027.
The Ambassador Hotel is an emblematic Art Deco building in Bucharest, located on Bulevardul General Gheorghe Magheru no. 10 and 10A, the city’s main north-south 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 resumed and have continued ever since. The acquisition was carried out in two stages, so in the first stage, Julius Meinl Living acquired Ambasador SA, which owned half of the property and operated as a hotel. Later, in the second stage, Ambasador SA acquired the other half of the property, which was owned separately.
In the process of acquiring the Hotel Ambasador property, Julius Meinl Living was assisted by a team of consultants, including Daniel Țigănilă, Managing Partner of Special Properties (brokerage), Kinstellar (legal), TPA (financial), Optim Project Management (development ).
As with The Julius Prague, The Julius Bucharest is intended to be LEED Gold certified. This environmental accreditation indicator will make The Julius Bucharest one of the most sustainable buildings in Romania.
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