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Howard Johnson, 30-percent increase in Q1

The Howard Johnson hotel in Bucharest, controlled by businessman Gabriel Popoviciu, posted turnover worth 4.9 million euros (18 million lei) in the first three months of the year, up 30 percent on last year, daily Ziarul Financiar reports on Friday.

This increase is a record on the five-star hotels' market in Romania, which has not seen any major changes over the last few years. Luxury hotels have increased by 5 to 15 percent over the last two years, and maintained a high occupancy rate during the weekdays, while the percentage of weekend clients covers a mere 20 percent of the hotel's capacity. Romanian five-star hotels include JW Marriott, Athenee Palace Hilton, Howard Johnson, Intercontinental, Crowne Plaza, Casa Capsa and Carol Parc. 'The upward trend is explained by the revised pricing policy, adapted to the current competition, as well as by a more 'aggressive' promotion and positioning on the five-star segment. Additionally, Bucharest has become a very attractive destination for companies that organise meeting, reunions, conferences and fairs,' Ziarul Financiar quotes Gratiela Badicu, the hotel's sales and marketing manager, as saying. The average net rate stood at 140 euros per room, 15 percent more than in the same period of 2007. Company representatives had announced an approximately 10 percent price increase in order to keep up with inflation and with market trends. This decision was not unique, after both Hilton and Crowne Plaza representatives considered rate increases. Sursa: http://www.rompress.ro

Tags: percent increase johnson howard