History
The hotel comprises two buildings of which the more than one-hundred-year-old main building is built in "Brâncovenesc style". Initially built in 1906 for a prominent architect, socialite and friend of King Carol I, the property was later sold to a Greek banker who owned the property until it was nationalized.
During the Communist period the building was nationalized and served as the headquarters for a number of communist party institutions, including ICRAL, the former housing authority (ICRAL in Romanian stands for "întreprindere de Constructii, Reparatii si Administrare Locativa").
The renovation and conversion cost close to 6 million Euros according to Romanian newspapers. This investment represents nearly twice the per room amount invested by other five star hotels in Bucharest.
Read more about this topic: Carol Parc Hotel
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