Romania’s Amstar Management has sold its Duke Romana and Duke Armeneasca units in Bucharest to an unidentified buyer.
“The hotel sector in Bucharest is in a period of active development, driven by the return of business tourism, the resumption of international events and the growing interest in city breaks,” explained Ioana Roman, Partner at Romania’s Filip & Company law firm, which advised Amster on the deal. “There is an increasingly intense competition for central locations, and investors are increasingly attentive to the potential for repositioning properties.”