Continental Hotels chain that operates 14 hotels on the Romanianmarket and is controlled by businessman Radu Enache, in the firstthree months of this year posted 6% smaller turnover in RONcompared with a year ago. The turnover decrease made thebusinessman halt hiring and freeze salary hikes and pay employeeson sole trader contracts. Turnover dropped by 6% from the firstquarter of 2009, and by 18% from budgeted estimates," statedbusinessman Radu Enache, without specifying the absolute value offirst quarter turnover. Last year, the 14 hotels derived 21m-euroturnover, down 19% year-on-year. "It will be very difficult for usto recoup first quarter losses and achieve the budget forecast forthis year given that the travel industry will be the last torecover from the crisis as the first budgets to be slashed weretravel and accommodation ones," said Enache. The average occupancyrate of Continental chain hotels reached 46% in the first quarterof 2010, similar with last year's. "The average price per room is anightmare, it was even lower than last year's," specified Enache.
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