Radisson Blu Hotel & Residences Mamaia: a €70 million investment designed for year-round hospitality

Monarc Development is preparing to begin construction of Radisson Blu Hotel & Residences Mamaia, a flagship project valued at approximately €70 million.

At the time of the interview, the development was awaiting the final approvals required for the building permit, with construction expected to begin in autumn 2026.

In an interview with Ziarul Financiar, Alexandru Manea, Co-Founder and CEO of Monarc Development, discussed the project's development process, financing strategy and long-term vision for expanding this hospitality model across Romania.

Construction expected to begin in autumn 2026

At the time of the interview, the project was awaiting the final signature from the chief architect of Constanța. Monarc Development expected to receive the building permit shortly, while construction was planned to begin in autumn, after the end of the summer season, when building works are restricted in Mamaia.

The development is scheduled for completion within three years from the start of construction.

Alexandru Manea explained that obtaining the necessary permits and approvals had been one of the most challenging stages of the project. The land had been secured almost four years earlier, while some approvals took as long as one year to obtain.

A year-round destination for Mamaia

Radisson Blu Hotel & Residences Mamaia has been designed to operate beyond the traditional summer season and to contribute to the development of Constanța as a year-round business and leisure destination.

The project will include 102 branded residences, a conference centre with a capacity of approximately 700 guests and a 1,000-square-metre spa.

The conference and wellness facilities are central to the project's strategy. Monarc Development aims to attract corporate events and business travellers, while also developing the wellness and balneotherapy segment during the off-season.

For the first year of operation, the financial projections are based on a conservative average occupancy rate of approximately 45% and an average daily rate of €106. The long-term objective is to reach the occupancy levels associated with established international hotels.

Interest from banks and investment funds

According to Alexandru Manea, several Romanian banks have expressed interest in financing the project. Discussions have also taken place with family offices and investment funds interested in joining the development.

Alongside the capital already committed, Monarc Development is targeting approximately €12 million from two or three investment funds.

This interest reflects the potential international investors continue to see in Romania as an emerging hospitality market, particularly for projects developed under established global brands.

A scalable hospitality model

Monarc Development intends to replicate the model developed for Mamaia in other Romanian cities, with Brașov, Cluj-Napoca, Timișoara, Oradea and Craiova among the locations being considered.

The broader strategy is to develop a portfolio of authorised hospitality projects capable of attracting international institutional capital. According to Alexandru Manea, discussions with foreign funds indicate that investors are interested in larger portfolios and multiple hospitality assets rather than isolated developments.

Radisson Blu Hotel & Residences Mamaia therefore represents both a major investment in the Romanian seaside and a first step towards a wider hospitality development platform.

About Monarc Development

Monarc Development is part of Monarc Group, an integrated business ecosystem active across real estate development, premium property advisory, interior design, luxury retail and strategic communication.

The Group includes Monarc Development, ANG | Forbes Global Properties Romania, Noam Mobili Design, Nestelli Diamonds and Radisson Blu Hotel & Residences Mamaia.

Source: Ziarul Financiar | Read the full interview ►