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Rin Grand, biggest hotel on domestic market - 6 mln euros in business in H1

Bucharest-based Rin Grand Hotel, the biggest one on the domestic market, posted in the first half of the year a turnover of 6.3 million euros.

Rin Grand Hotel in Bucharest has 1,500 four-star rooms and is held by Negoita brothers. The hotel was opened in a first stage - 650 room - in November 2007. Romanians account for 80 percent of the clients and foreigners - 20 percent. This is somewhat an atypical situation on the four and five-star hotels market, in Bucharest, where more than 50 percent of the clients are foreigners, Ionut Negoita told Ziarul financiar daily. Most of foreign clients of Rio Grand Hotel come from Italy, Germany, Spain, Greece, France, Turkey or Austria. In the first half of 2008, Rin Grand Hotel business stood at 2.7 million euros, the difference up to 6.3 million euros being provided by April-June period. The Q2 growth is also due to the NATO Summit in Bucharest, over April 2-4, 2008. NATO Summit contributed with some 8 percent to Q2 turnover, throughout the three days the occupation degree being of 90 percent, namely some 1,000 rooms opened, stressed Negoita. Rin Grand Hotel needed an investment of 60 million euros and will start operating at full capacity in September. Negoita estimated for 2008 a turnover of 17 million euros, which would place Rin Grand Hotel in the top five units on the domestic market, according to turnover. Negoita brothers also hold Confort Otopeni, Rin Otopeni (close to Bucharest) and Traian hotels, estimated to generate in 2008 a turnover between 10 and 12 million euros. The two plan to also build a two-star hotel in the Otopeni zone, as well as another large spanning unit, similar to Rin Grand Hotel, in Bucharest's Pipera zone. Sursa: http://www.rompress.ro

Tags: hotel grand euros negoita percent million turnover domestic bucharest market

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