At first, the hotel was intended to have 1,000 rooms and the building, only 11 floors and the cost would have been around €30 million. But with the demolition of the Rossiya Hotel in Moscow, Russia, which was the second-largest hotel in Europe at the time with 3,200 rooms, the developers saw an opportunity to construct an even larger hotel than initially envisioned and thus the hotel was upgraded to 1,459 rooms and the building heightened to 15 floors. The construction of the Rin Grand Hotel started in 2006 on a plot of land located in Southern Bucharest in the Vitan area where no major hotel existed at the time. The first 630 rooms were finished in October 2007 and the rest of the 1,459 rooms were finished in March 2008 in time for the 20th NATO Summit held in Bucharest; its invitees occupied 900 rooms. The hotel was built at a cost of €60 million and is owned by the RIN Group.