Currently, the hotel has 60 apartments addressing tourists who want to accommodate long term. The apartments have a size between 38 and 50 square meters, 4- stars ranking, according to the developer. According to the hotel manager, Mauricio Gomez Mesa, the hotel target is “expats, people in the diplomatic corps, and tourists. We estimate revenues of 1.5 million euros in the first year of operation,” he said.
Cismigiu hotel, originally known as Palace Hotel was built in 1912, and had 200 rooms. In 1948, it was nationalized and the name was changed to Hotel Cismigiu. Hercesa bought the building in 2005 and renovation works began in 2009. Hercesa is a Spanish company with business and industrial real estate operations and built more than 20,000 apartments. The company manages apartments for rent and it is present on the Romanian market since 2004.
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