Forty Management starts selection process for the hotel in the Central District Lagoon City project
Forty Management has hired EST Hospitality Consulting to manage the international affiliation process of the hotel component of its Central District Lagoon City project.
The project will be a large mixed development, with a residential component with 570 apartments, an office building of 8,000 sqm GLA, 5,700 sqm of commercial space, as well as a hotel with 250 rooms , all built around a 20,000 sqm lagoon, implemented under an exclusive Crystal Lagoons license.
“We invited all large hotel groups that can add value to this innovative project to participate in the selection process. We are delighted by the immediate answers and the positive feedback shown by the 9 international brands that submitted offers, some for the first time for Romania. This project generated a major interest from them, some groups offering 2 brands, which shows the viability of such a special project as Central District Lagoon City, the first project in the EEC that will bring leisure and lifestyle components in the city , as a real “resort in town”, says Mircea Drăghici, CEO of EST Hospitality Consulting.
“According to STR Global studies, hotels with access to the beach generate a premium of 151% in revenue compared to hotels in the city. The existence of this mix of city hotel with access to the beach is unique, and this explains the massive interest of these international brands”, he adds.
Forty Management is an internationally awarded real estate development company that develops mixed projects under the Central District brand. The company has several completed residential developments (293 apartments in Central District Polona25, Central District Cuza99 and Central District 4 Elements), another 42 apartments under construction (Central District Future 134) and 680 apartments in the immediate development plan (Central District Lagoon City and Central District Royal Suites).