Bucharest's biggest five-star hotel, JW Marriott Grand Hotel,which has 402 rooms, recorded a 20% turnover decline in euros lastyear, to 30 million euros, according to hotel officials and ZFcalculations.
"We set out to attain a slight increase in our business comparedwith last year, which will mainly be generated by having the roomsoccupied in the peak months, considering that we will not increasethe average fee per room as long as demand on the market is stillweak," said Meda Vasiliu, the hotel's marketing and sales manager.The five-star hotel ended 2008 with 17.1 million euros in lossesand a 38 million-euro turnover, according to the Ministry ofFinance.
In the first two months of this year, JW Marriott had a 7%higher occupancy rate against the similar period of last year."(...) However, it is hard to say if there is a rebound on thehotel market, because January and February are traditionallyoff-season months, when there is a lower occupancy rate," Vasiliusaid. JW Marriott is held by Societatea Companiilor HoteliereGrand, whose majority stake is held by Austria's Bau HoldingStrabag.
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