Although ROMEX Investments was founded fairly recently in 2008, the story of the start of the development of their luxury holiday apartments in Austria goes back much further:
“A few years ago, we met an Austrian couple who owned a hotel in Tirol, Austria. The hotel was very out of date, however, and financially there wasn’t much life left in it. It would have been necessary to invest millions to ensure that the hotel became at least somewhat profitable.
We then (at the start of 2006) made the suggestion to stop running the place as a hotel, but to convert the building into luxury and modern holiday apartments, which could then be sold to (mainly) foreigners.
This truly was a good idea, but it was easier said than done. Aside from the technical problems involved in the conversion, we were also confronted with plenty of legal problems.
The problem is, that Austria is divided into provinces (cantons), which all have their own legislation. During our first project Residence Zillertal in Gerlos, we were confronted with Tirol legislation, which is completely different from European legislation. Eventually, after more than a year, and thanks to an excellent legal contacts network, we managed to achieve a good and workable compromise with the authorities. We finally received the building permits, launched a marketing campaign, and were able to start selling. By that time, it was autumn in 2007!
In 2008 Romex continued the development of another project, located directly behind Residence Zillertal, called Gerlos Alpine Estate. This project was completed in 2010. A little further in the center of Gerlos, Romex had the opportunity to develop another project. Gerlos Mountain Estate was delivered at the end of 2011 and went from that moment into rental.
After the three completed projects in the popular Gerlos, Romex started looking for other locations. As a result, Romex ended up on the French market, where it installed the Mont Blanc Alpine Estate apartment complex at the end of 2012.
Thereafter Romex went back to the Austrian market, where it developed a small-scale complex in Kaprun, called Kaprun Glacier Estate, which opened in the summer of 2013.
The two most recently built complexes are located in the Wildschönau, in the village of Niederau. The large complex, Residenz Drachenstein Wildschönau, is close to the smaller complex, Kristall Plaza Niederau. At Kristall Plaza, Romex has also opened its first restaurant, called Glennie's Resto & Ginbar.
Romex is currently working on the development of the latest project, Residenz Illyrica Tirol in Westendorf. This luxurious apartment hotel also has a Glennie's Resto.