Colliers: Romania’s hotel market reaches the highest number of tourists in the last three decades

Romania’s hotel market is experiencing a period of accelerated growth, reaching a record of more than 25 million overnight stays in 2024, the highest level in more than 30 years, driven by a rising number of foreign tourists and strong demand for modern hotels, according to Colliers’ annual report. Romania’s international visibility is increasing and the country’s accession to the Schengen area in 2025 could further boost tourist inflows, supporting industry expansion. At the same time, significant investments in new hotels and growing interest from international brands are reinforcing Romania’s position as a high-potential market, well positioned for sustainable long-term growth.

Romania is among the European countries with strong tourism sector performance in recent years, with the number of overnight stays surpassing pre-pandemic levels by 4%, exceeding the EU average, which grew by less than 2% over the same period. This growth is driven largely by domestic tourists and the leisure sector, as the number of foreign visitors, despite a significant increase in 2024, remains below pre-pandemic historical peaks.

“Romania is gradually catching up with more developed tourism markets, recording a record 25 million overnight stays in hotels in 2024, up 6% on the previous year. Growth was stronger among foreign tourists (+13%), while domestic tourism increased by 5%. Although Romania is gaining international visibility and Schengen accession could attract more visitors, business tourism has yet to fully recover. The number of overnight stays by foreign travelers, who come mainly for business, is still almost 3% below the peak recorded in 2018-2019. Air traffic increased by 5% and outbound travel expenditure reached a record high, indicating that more Romanians are choosing to spend their holidays abroad”, explains Raluca Buciuc, Director, Partner of Valuation360 and Advisory Services at Colliers.

Over the last decade, Romania has seen a significant increase in tourism spending. According to Eurostat, a business traveler in Romania spent an average of €333 per trip in 2023, one of the lowest values in the European Union. This amount is significantly lower than in Hungary (€562) and Poland (€488). However, Romania stands out with the third fastest growth rate in the EU for this indicator. Between 2013 and 2023, business travel spending per trip will increase by 134%, well above the EU average of 31%.

According to the annual report published by Colliers, which analyzed 4 and 5-star hotels in Bucharest affiliated with international brands, the average daily rate (ADR) has exceeded 2019 levels, reaching over €140 per night – a 21% increase in foreign currency and 27% in local currency (RON). Compared to the previous year, ADR rose by 8%, placing Bucharest ahead of capitals such as Warsaw, Budapest, and Vienna in terms of growth dynamics, according to STR data.

Additionally, revenue per available room (RevPAR) increased by 10% compared to pre-pandemic levels, signaling that Bucharest’s hotel market continues to expand beyond pre-2020 benchmarks. However, business tourism has not yet fully recovered, as reflected in the average occupancy rate, which remained below 70% in the first 10 months of 2024. While significantly higher than the sub-50% levels recorded in 2020-2021, it has yet to reach the 2018-2019 peak of 78%. These figures also highlight the gap between leisure and business tourism, the latter remaining a key driver of Bucharest’s hospitality sector.

“The rapid growth of tourism, driven primarily by leisure travel and a gradual recovery of business tourism, combined with a limited supply of hotels, is making Romania an increasingly attractive destination for investment. In 2024, over 400 new rooms were added to the market in international hotels, including Romania’s first 5-star Swissotel in Poiana Brașov (64 rooms, with expansion plans). Looking ahead to 2025-2026, approximately 15 new hotels are expected to open, adding over 2,000 rooms. While most will be part of established brands such as Marriott, Hilton Accor, new hotel chains like Ascott Hotels (The Crest Collection) and Corinthia will also enter the Bucharest market with fresh developments”, notes Raluca Buciuc.

This dynamic growth, adds the Colliers director, reinforces the strong growth potential of Romania’s hotel market, which continues to attract new investors and international operators. Although still less developed than other markets in the region, Romania is well-positioned to strengthen its role as an emerging destination in Central and Eastern Europe. With promising prospects for sustained growth, its long-term trajectory will depend on economic stability.

Across Europe, leisure tourism has been the primary driver of growth, with significant differences between northern and southern regions. According to Smith Travel Research (STR) data, Italy, Spain, and Greece recorded the highest increases in the average daily rate (ADR) and occupancy levels, while Germany and the Nordic countries saw more moderate growth. Central and Eastern Europe sits between these two extremes, maintaining a steady pace of expansion. According to Colliers consultants, luxury and premium hotels continue to grow, while the mass-market segment remains stable.