Romania Hospitality Market Size
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 15.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Romania Hospitality Market Analysis
Romania's Hospitality Industry has generated a revenue of USD 2 billion in the current year and is poised to register a CAGR of 15% for the forecast period. Romania has experienced a steady increase in tourist arrivals, both from domestic and international sources. The country's rich cultural heritage, natural beauty, and affordability have attracted a diverse range of travelers. Popular tourist destinations include Bucharest, Transylvania, the Danube Delta, and the Black Sea coast. The accommodation sector in Romania offers a variety of options, ranging from luxury hotels and resorts to budget hotels, guesthouses, and vacation rentals. Major international hotel chains have a strong presence in the country, providing standardized services and amenities. Additionally, independent hotels, boutique hotels, and traditional guesthouses contribute to the diverse accommodation landscape.
Romania's rural areas offer opportunities for rural tourism and ecotourism. Visitors can experience authentic village life, participate in agricultural activities, and explore the country's natural landscapes. This type of tourism supports local communities, promotes sustainable practices, and highlights Romania's natural and cultural heritage. The digital transformation has impacted the Romanian hospitality market with the rise of online travel agencies (OTAs) and vacation rental platforms. Travelers can easily book accommodations, compare prices, and read reviews through various online platforms. Technology also plays a role in hotel operations, guest services, and marketing efforts.
The Romanian hospitality industry faces certain challenges. These include seasonality, where tourist arrivals are concentrated in specific periods and the need for infrastructure improvements in some regions. The COVID-19 pandemic also significantly impacted the market, leading to temporary closures, travel restrictions, and changes in consumer behavior. However, as the situation improved, the industry was gradually recovering.
Romania Hospitality Market Trends
Increasing Tourist Arrivals is Driving the Market
Romania is a popular destination for mountain tourism. Romania's natural potential encourages domestic tourism, particularly winter sports and ski tourism, which is anticipated to continue to drive tourism in the forecast period. Also, Romania is quietly emerging as an interesting European destination, owing to its unique ability to combine natural habitat with more leisure tourist activities. Mountain tourism is a part of Romania's tourist heritage, which is presently interpreted differently by visitors due to its unique appeal derived from natural, cultural, heritage, and social characteristics. More than 50 percent of foreign tourists from EU countries who visited Romania in 2022 came from neighboring countries: Bulgaria and Hungary. Romania is often perceived as a relatively affordable travel destination compared to other European countries. This affordability, combined with the country's diverse offerings, attracts budget-conscious travelers seeking value for their money.
Rising Number of Hotel Stays in Romania after Covid 19
The Tourism Industry in Romania, like many other countries, experienced a significant decline in hotel stays during the COVID-19 pandemic due to travel restrictions and safety concerns. However, as the situation improved and travel resumed, there was a gradual recovery and a rising number of hotel stays in Romania. As vaccination rates increased and the spread of the virus was better controlled, many countries started lifting travel restrictions. This allowed both domestic and international tourists to visit Romania more freely, leading to an increase in hotel stays. With international travel being uncertain during the pandemic, domestic tourism became a primary focus for many people. Romanians who previously traveled abroad may now choose to explore their own country, leading to increased hotel stays within Romania. To stimulate tourism and attract guests, hotels may offer promotional deals, discounts, or packages to entice travelers. These incentives can motivate people to choose Romania as a destination, and book hotel stays.
Romania Hospitality Industry Overview
The competitive landscape within the Romanian hospitality industry is constantly evolving, influenced by market trends, changing consumer preferences, and the overall economic climate. Different players strive to differentiate themselves through factors such as service quality, location, amenities, pricing, and unique selling propositions, aiming to attract and retain guests in this competitive market. The hospitality industry in Romania is a combination of chain hotels and many independent hotels in upscale and luxury, mid-scale, budget, and economy categories. Romania's capital has one of the most developed hotel markets in the country, dominated by 4- and 5-star hotels. Some of the most important players in the Romanian hospitality industry are Ana Hotels, Grand Hotel Italia, Continental Hotels, JW Marriott Hotels, and Hilton Worldwide.
Romania Hospitality Market Leaders
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Ana Hotels
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Grand Hotel Italia
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Continental Hotels
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JW Marriott Hotels
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Hilton Worldwide
*Disclaimer: Major Players sorted in no particular order
Romania Hospitality Market News
- March 2023: Accor's Mercure Hotels brand is continuing its strong expansion in Romania with the signing of a site in the capital city of Bucharest. The 40-key hotel will operate in a fully refurbished building on Dimitrie Cantemir Boulevard, close to Unirii Square and the old city center. Amenities will include a restaurant, a bar, and a conference room, which is divided into two separate meeting rooms.
- November 2022: JW Marriott Bucharest Grand Hotel upgraded to Contactless Mobile Access and Enhanced Guest Security With ASSA ABLOY Global Solutions. Luxury Romanian hotel destination leveraged future-proof door lock technology to seamlessly and affordably replace magtripe locks with the latest in RFID and digital key functionality.
Romanian Hospitality Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS AND INSIGHTS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Tourist Arrivals
4.2.2 Quality and Service Standards
4.3 Market Restraints
4.3.1 Skill Shortages and Labor Costs
4.3.2 Regulatory Challenges and Administrative Burdens
4.4 Industry Attractiveness - Porter's Five Forces Analysis
4.4.1 Bargaining Power of Buyers
4.4.2 Bargaining Power of Suppliers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitutes
4.4.5 Intensity of Competitive Rivalry
4.5 Technological Innovation in the Hospitality Industry
4.6 Impact of COVID-19 on the Hospitality Industry
4.7 Insights on International and Domestic Visitors in Romania
4.8 Insights on Revenue Flows from Accommodation and Food and Beverage Sectors
4.9 Investments (Real Estate, FDI, and others) in the Hospitality Industry
4.10 Loyalty Programs Offered by Major Hotels in the Country
5. MARKET SEGMENTATION
5.1 By Type
5.1.1 Chain Hotels
5.1.2 Independent Hotels
5.2 By Hotel Category
5.2.1 Upscale and Luxury Hotels
5.2.2 Mid-Scale Hotels
5.2.3 Budget and Economy Hotels
6. COMPETITIVE LANDSCAPE
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.1 Ana Hotels
6.2.2 Grand Hotel Italia
6.2.3 Continental Hotels
6.2.4 JW Marriott
6.2.5 Ramada Bucharest Parc Hotel
6.2.6 Accor Hotels
6.2.7 Radisson Hotel Group
6.2.8 Hilton Worldwide
6.2.9 InterContinental Hotels Group
6.2.10 Relais & Chateaux
6.2.11 Hotel PRIVO
6.2.12 Other Prominent Players in Romania*
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. DISCLAIMER AND ABOUT US
Romania Hospitality Industry Segmentation
Hospitality means welcoming a guest and making them comfortable at your place by looking after their needs during their temporary stay. The hospitality industry in Romania refers to the total transactions recorded by various accommodation establishments in Romania. The study captures the market value of the hospitality industry in Romania. The Romania Hospitality Industry is segmented By Type (Chain Hotels and Independent Hotels) and By Category (Upscale and Luxury Hotels, Mid-Scale Hotels, and Budget and Economy Hotels). The report offers market size and forecasts for the Romania Hospitality Industry in value (USD) for all the above segments.
| By Type | |
| Chain Hotels | |
| Independent Hotels |
| By Hotel Category | |
| Upscale and Luxury Hotels | |
| Mid-Scale Hotels | |
| Budget and Economy Hotels |
Romanian Hospitality Market Research FAQs
What is the current Romania Hospitality Market size?
The Romania Hospitality Market is projected to register a CAGR of greater than 15% during the forecast period (2024-2029)
Who are the key players in Romania Hospitality Market?
Ana Hotels, Grand Hotel Italia, Continental Hotels, JW Marriott Hotels and Hilton Worldwide are the major companies operating in the Romania Hospitality Market.
What years does this Romania Hospitality Market cover?
The report covers the Romania Hospitality Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Romania Hospitality Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Romanian Hospitality Industry Report
Statistics for the 2024 Romania Hospitality market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Romania Hospitality analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
