The Transilvania Development company (TD), responsible for managing the three and four-star hotels Central Plaza and City Plaza in Cluj-Napoca, plans to build a tourist complex in Vama, Suceava county, within the next 3-4 years.
"We've acquired a several hectare plot of land in the area and the project is set to be a medium-term one. We haven't analysed all the data related to the necessary investments yet, but we acquired the land as it was selling at a good price," Nina Moldovan, general manager of City Hotels Romania, a member of Transilvania Development, told ZF Transilvania.
The company's representatives chose not to disclose the price paid for the land, or the total costs of the project.
TD's projects for the coming period also include the expansion of the City Hotels concept to other tourist destinations in Romania.
"We haven't signed any definite contracts yet, but we're interested in areas such as the Danube Delta, Prahova Valley and Timisoara," said Moldovan.
The company's development plans for this year target the expansion of accommodation capacity in the City Plaza Hotel.
The company's management estimates this year's turnover to be around 2m euros for both hotels, up 10% on 2006. "Demand is rising at the moment, with the business travellers, student travel and event segments as the main growth drivers for the market," specified the general manager of City Hotels.
Moldovan also predicts that domestic shopping travel will also emerge in the coming period, which will boost financial indicators.
In addition, she confirmed that the average occupancy rate for the two hotels reached 67% last year, with corporate contracts accounting for most of the company's turnover, 45%, while events and business travel accounted for 25% each.
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