Radu Enache, owner of Continental hotel chain, with 21 millioneuros in turnover last year, says although he has cut spending atall hotels he controls, the group's turnover slipped by 6% in thefirst quarter of this year against the similar period of lastyear.
"It will be very difficult to offset this loss in the firstthree months of the year, considering that there are no signs of arebound on the market," said Enache, who controls 14 hotels on theRomanian market, rated from two to five stars. In response to theturnover decline, the number of employees of the hotel group fellfrom 1,100 to around 730 this year amid an "employmentfreeze".
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