Alexandru Manea at ZF Live: Radisson Blu Hotel & Residences Mamaia moves towards construction as Monarc advances its year-round hospitality vision

Alexandru Manea, Co-Founder and CEO of Monarc Development, joined ZF Live to discuss the next stage of Radisson Blu Hotel & Residences Mamaia.

Watch the full ZF Live interview with Alexandru Manea below.

Alexandru Manea, Co-Founder and CEO of Monarc Development, joined ZF Live to discuss the next stage of Radisson Blu Hotel & Residences Mamaia, the realities of developing large-scale hospitality projects in Romania and the opportunity to rethink the Romanian seaside beyond its traditional summer season.

The discussion comes as the project reaches a significant milestone. Following the issuance of the building permit, construction is expected to begin in September 2026, with completion planned approximately three years after works commence. The development represents an investment of around €70 million.

At the centre of the conversation was one of the most persistent challenges facing real estate development in Romania: permitting. Manea explained that the approval process for the project extended over two and a half years, significantly longer than what he considers a reasonable timeframe for an investment of this scale.

But the discussion went beyond the development timeline. It addressed a broader question: what does the Romanian seaside need in order to evolve from a predominantly seasonal destination into a year-round hospitality market?

For Monarc Development, the answer lies in the product itself.

“The area needs facilities. People don't just want a place to stay,” Alexandru Manea said during ZF Live.

Radisson Blu Hotel & Residences Mamaia has been conceived around this premise. Rather than focusing exclusively on seasonal accommodation, the project combines hospitality, residential ownership, business infrastructure and wellness within a single development.

The project will include 234 hotel rooms and 102 branded residences, alongside a conference and events centre with capacity for up to 700 guests. The development will also integrate a substantial wellness component, supporting its positioning beyond the traditional summer tourism model.

The branded residences component adds another dimension to the project. The model combines private ownership with professional hospitality management, while creating a second revenue stream for the development alongside hotel operations. The residences will subsequently be managed by a hotel operator, connecting private real estate ownership with the operational standards of international hospitality.

Building for more than one season

One of the central themes of the ZF Live conversation was seasonality.

The Romanian seaside continues to concentrate much of its activity within a relatively short summer window. In Manea's view, one of the reasons is the limited availability of facilities capable of generating demand outside the traditional holiday season.

Conference infrastructure, events, wellness and hospitality services can change that equation.

This is why Radisson Blu Hotel & Residences Mamaia has been designed not simply as another accommodation project on the coast, but as a destination capable of addressing leisure, business and residential demand throughout the year.

The commercial assumptions behind the project reflect the same approach. According to figures discussed during the interview, the hotel could reach profitability at an average annual occupancy rate of approximately 45%, with an estimated average room revenue of around €145. Seasonal rates could reach approximately €400 per night, compared with €120 - 130 during the off-season. Manea estimates an investment recovery horizon of approximately eight to ten years.

The strategy marks a deliberate departure from a development model that has largely shaped the Romanian coast over the past years, one centred primarily on holiday apartments.

Instead, Monarc Development is betting on a hospitality-led model in which accommodation is supported by services, professional management, wellness, events and infrastructure designed to generate activity throughout the year.

For Alexandru Manea, this is also part of a larger opportunity for Constanța: moving from seasonal demand towards a destination capable of attracting hospitality, business and investment 365 days a year.

Source: Ziarul Financiar | Read the original article on Ziarul Financiar ►