Buy a Hotel in Romania

Yes — EU and non-EU nationals and companies can purchase hotel properties in Romania without restriction. The hotel building and land (if intravilan residential or commercial) can be purchased directly. The acquisition may be structured as an asset purchase (buying the building) or a share purchase (buying the operating company). Romania For Business SRL advises on the optimal structure based on the specific hotel and the buyer’s tax and operational preferences.

An asset purchase means buying the physical property — the building, land, furniture and equipment — through a notarised deed. The buyer gets a clean start with no historical liabilities, but must re-apply for the operating licence, hotel classification and all other permits. A share purchase means buying the company that owns and operates the hotel — including all its assets, licences, contracts, staff and liabilities. The operating continuity (OTA accounts, star rating, staff) is preserved, but the buyer inherits all historical liabilities. Each structure has different tax implications and requires different due diligence scope.

Hotel prices in Romania vary widely by type, size and location. Guesthouses (pensiuni) with 5–15 rooms in rural or mountain locations: €100,000–400,000. Boutique city-centre hotels (15–50 rooms) in Bucharest, Cluj or Brașov: €400,000–2,000,000. Mountain resort hotels: €500,000–3,000,000. SPA and wellness resorts: €600,000–5,000,000+. Black Sea coastal hotels: €300,000–2,500,000. Eco-tourism and rural tourism properties: €80,000–600,000. All figures are indicative — confirm with our team for current market pricing.

ANT (Autoritatea Națională pentru Turism) is the Romanian National Tourism Authority — the body responsible for classifying hotels (1–5 stars) in Romania. The ANT classification certificate is the hotel’s official star rating — it determines how the hotel is listed on OTA platforms, in promotional materials and in tourism statistics. A change of ownership requires notification to ANT and a new or transferred classification certificate. If the hotel’s classification has lapsed, it cannot be legally displayed — and the buyer must re-apply from scratch.

A straightforward guesthouse or small boutique hotel acquisition typically takes 2–3 months from NDA to completion. A larger hotel acquisition (50+ rooms) with complex due diligence, SPA negotiation and financing typically takes 3–6 months. The process can be extended by: ANAF debt discoveries requiring price negotiation, building permit or licensing issues requiring resolution, and any financing conditions (if the buyer is using Romanian or international bank financing).

Before making any offer, the buyer should receive: at least 3 years of P&L statements (preferably audited), the most recent ANAF-filed annual accounts, monthly revenue data by channel (OTA, direct, corporate), occupancy and ADR data by month for the last 2 years, a current employee list with salaries and contract types, and a list of all ongoing supplier contracts. If the seller cannot or will not provide this information, it is a significant red flag. Romania For Business SRL prepares a due diligence information request list tailored to each hotel acquisition.

For an asset purchase: notary fee (~0.5%–1% of the property value), ANCPI registration tax (~0.1%–0.5%), and potentially VAT at 19% on the building (if sold by a VAT-registered entity as a going concern — confirm with a Romanian tax adviser). For a share purchase: share transfer is not subject to Romanian stamp duty or transfer tax for SRL shares, but income tax or corporate tax on the gain applies to the seller. After acquisition: annual property tax on the hotel building, VAT compliance for the operating business and corporate income tax on hotel profits. Romania For Business SRL’s tax team advises on the full tax structure at acquisition scoping.

Romanian commercial bank financing for hotel acquisitions is available from major banks (BCR, BRD, Raiffeisen, UniCredit) — typically for amounts above €500,000 and subject to the hotel having a minimum 2 years of positive trading history. Loan-to-value ratios for hospitality properties are typically 50%–60% — requiring significant equity from the buyer. Most smaller hotel acquisitions (pensiuni, boutique hotels below €500,000) are cash-financed or use foreign bank financing. Romania For Business SRL advises on financing options for each acquisition.

After acquisition, the hotel must maintain: the ANT classification certificate (periodic renewal); the operating authorisation from the local Primărie (annual renewal in many cases); the fire safety permit (ISU/PSI — periodic inspection); the sanitary authorisation (DSP — annual renewal); the food safety registration (ANSVSA — for food-serving properties); and the alcohol authorisation (if the hotel has a bar or restaurant). Romania For Business SRL coordinates the first round of licence renewals as part of the post-acquisition setup service.