Romania hotel gets 123m euro refinancing deal

By Megan Brooks 03/08/2026 2 min read 18 views

The €123 million refinancing of the Radisson Blu Bucharest hotel complex marks the largest single‑asset hotel loan ever completed in Romania, according to the financing documents.

International lender backs Romanian hospitality asset

Deutsche Pfandbriefbank AG (pbb) provided the entire facility, a notable move for a specialist European real‑estate bank without a retail presence in the country. The loan was signed and closed at the end of June 2026, less than five months after the refinancing process began. The speed of the transaction demonstrates foreign capital’s willingness to engage when fundamentals are strong.

The complex, owned by Revetas Capital together with funds managed by Cerberus Capital Management, L.P., includes two branded hotels—Radisson Blu and Park Inn—offering a total of 835 rooms across interconnected buildings. The property spans roughly 86,000 m² and surrounds a central courtyard that houses fitness and entertainment facilities.

Renovations and awards bolster asset profile

Since 2019, the hotels have undergone a refurbishment programme costing more than €30 million. The upgrades earned recognition: the Radisson Blu was named Romania’s Leading Business Hotel at the World Travel Awards in both 2023 and 2024, and in 2025 it became the first five‑star hotel in Bucharest to achieve BREEAM In‑Use “Excellent” certification, a distinction held by only ten hospitality properties nationwide.

From a practical standpoint, the transaction sets a benchmark for owners of ageing hotel stock in Central and Eastern Europe. Closing a cross‑border, multi‑jurisdiction financing of this size in under five months demonstrates that disciplined asset management and a clean capital structure can still attract large‑scale funding, even when comparable deals are scarce.

The successful refinancing could encourage other European institutional lenders to consider similar investments in Romania’s prime hospitality sector. If owners pursue comparable upgrades and maintain transparent financing, the market may see a gradual increase in cross‑border capital flows.

Vlad Dragoescu, Partner and CEE Head of Portfolio Management at Revetas Capital, said the loan reflects years of active management through a difficult cycle. “This refinancing is a reflection of what the asset has become, and reaching this point took sustained commitment through some genuinely difficult years,” he said. “The fact that Deutsche Pfandbriefbank underwrote this refinancing as sole lender, the largest single hotel asset refinancing in Romania, says everything about the quality of the asset and the conviction behind the plan.”