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Ramada Plaza: International crisis starts affecting business

The international crisis has started affecting business, which has reported a slight decrease, said general manager Ramada Plaza Hotel Daniel Ben-Yehuda, whom the Ziarul Financiar daily quoted on Tuesday.

Ramada Plaza Hotel in northern Bucharest, owned by businessman Gabriel Popoviciu, will reduce its budget for this year.

Ben-Yehuda said the turnover of the hotel for the first year of operation was put at five million euros, and the revenues so far meet the expectations. But he believes that, under the current circumstances, estimates will put the turnover at only 3.5 million euros for 2008.

The four-star Ramada Plaza Hotel turned operational this March, it has some 300 rooms. In the first four months of operation, occupancy stood at stood at 60 percent for weekdays. Around 90 percent of the hotel's revenues are coming from business tourism, and only ten percent from leisure, so the international crisis and vacation will affect future performance.

'We believe that average occupancy will stand in the coming six months at around 50 percent, with two summer months in Q3, not so good for business tourism, ' Ben-Yehuda also said. Business tourism covers more than 80 percent of the revenues of the hotels in Bucharest.

Ramada Plaza belongs to Parc Hotels Co., which also manages Best Western Parc Hotel - to enter in 2008 under the umbrella of Ramada, Casa Doina, and starting next year Parc Health Club. Parc Hotels estimate for this this year nine million euros in turnover. Popoviciu, known notably for Baneasca project, is one of the biggest owners of hotels in Bucharest, he owns some 1,000 rooms in Best Western Parc and Ramada, both of them four-star hotel, and in the five-star Howard Johnson.

Sursa: http://www.rompress.ro

Tags: ramada business plaza percent hotel crisis international

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