Transylvanian billionaire Constantin Ceausescu is planning to turn a hotel on the outskirts of the capital city of Bucharest into a luxury luxury destination.
The hotel will be named the Transylavian Hotel.
It will be opened in early 2018.
Its owner Constantin Ceescu says he is the one who is creating the new name and the reason for the name change is because Romania is experiencing a recession.
Ceesceu says he wants to create a destination for all travelers, and has already secured funding from private and public investors.
The name change comes as Romania’s economy struggles to recover from the financial crisis and as the government continues to slash the number of government employees.
The economy grew by 4.4% in 2017.
That’s down from the 5.9% growth in 2016, according to the National Statistical Institute.
In an interview with the AP, Ceesuc said he is not only focused on the hotel but also the surrounding area.
He hopes that Transylva will become an economic hub for the Romanian economy.
The resort is located on a vast expanse of land and it is the only one of its kind in Romania, Ceerescu told AP.
The resort will have a maximum occupancy of 40,000 people, a number that could easily double in time.
The Ceesux hotel is owned by a partnership between Ceeusescu and Romanian-Italian businessman Francesco Ciavarella.
The two have owned the hotel since 2005, according a Ceevescu biography on the Translazione website.