APX Hotels Group expands its portfolio with a new 4-star hotel in the historic center of Sibiu. The Former Libra hotel transaction, assisted by Crosspoint Real Estate, was closed last year for 1.85 mil. Eur. The renovation process is close to completion and the finishing touches are currently being added. The new Hermanns Hotel will accommodate its first guests in July 2021.
Hermanns Hotel is dedicated to both business and leisure purposes and will have a capacity of 71 rooms, 2 conference rooms for 45 and 100 people respectively, a modern Spa – equipped with indoor pool, sauna, hammam, steam bath, massage parlors, salt room, lounge area and fitness room. The hotel’s restaurant, called FAIN – with Italian specifics – has a seating capacity of 100 people inside and 80 people on the terrace. The menu, made with great care from premium, local and international ingredients, together with the last generation wood-fired oven, will offer the perfect dining experience.
“We are very excited about the opening of the new Hermanns Sibiu, our fifth property in the APX Hotels group portfolio, located near the historic center. The hotel has all the necessary facilities to create a memorable experience for our customers and offers some innovative, even unique elements on the hospitality market in Romania, which will surely surprise our guests. We are grateful to our consultant and once again thank them for making this transaction possible. Hermanns will certainly be a symbol hotel for Sibiu and for the entire region“, said Măriuca Cristea, Chief Strategy Officer, Apx Hotels.
The former Libra hotel was in an advanced level of degradation and required, after the acquisition, an investment in renovation estimated at about 5 million euros.
“I am glad that we were able to assist the sale of the current Hermann Hotel in Sibiu, especially in pandemic times. I hope that this transaction will inspire other players in the field and help them look with excitement to the near future, when people resume travel due to mass vaccination programs. Most of all, I’m glad that we were able to make a small contribution to local tourism in Sibiu – a former European Capital of Culture,” said Oana Popescu, Associate Director of Residential Capital Markets, Crosspoint Real Estate, the consultant who led this transaction