Sol Melia Hotel Group Eyes Romanian Coast, Bucharest Market

Navarro said the company is evaluating opportunities on the coast, but no discussions have been finalized. He said the Romanian seaside hotels require large investments and renovation, because of their age.

"There are hotels on the Romanian coast interested in joining our brand, but this comes with certain conditions. We have had talks with a hotel owner in Mamaia, but nothing came of that because operational costs were too high," Navarro said.

The company plans to open its first hotel on the coast under the Sol Hotels brand, which is made up of four-star units. The group is also looking to absorb four- and five-star hotels in Bucharest.

"As regards the Capital, we believe the four- and five-star Tryp and Melia Hotels & Resorts brands to be appropriate. The top five-star brands - Marriott, Radisson, Hilton - are already open in Bucharest. There aren't many four-star units in the city and this brand has potential, especially considering individual tourists or the week-end segment," Navarro explained.

The Sol Melia group operates almost 400 hotels in 30 countries, owning about 40%. The hotel chain is the largest in Spain and the third largest in Europe. The company's brands include Gran Melia, Melia Hotels & Resorts, ME by Melia, Tryp Hotels and Sol Hotels.

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