Zamfirescu Racoti Vasile & Partners has advised Ana Hotels on a hotel management agreement with international group IHG Hotels & Resorts for the operation of the Athenee Palace hotel under the InterContinental Hotels & Resorts brand starting from 2023.
"The transaction is notable given that in recent years hotel management agreements have been rare in the local hotel market, which has been deeply affected by the restrictions imposed in the fight against the COVID-19 pandemic," ZRVP informed.
According to the firm, "the Athenee Palace Hotel has a 108-year history and is one of the historical and architectural symbols of Bucharest. Following the rebranding, it will become the only hotel in Romania operated under the InterContinental Hotels & Resorts brand."
The ZRVP team included Partners Crenguta Florea and Mihai Bajenaru.