Daniel Ben-Yehuda, the general manager of four-star hotels Ramada Plaza and Parc, owned by Gabriel Popoviciu, says the domestic market will not register a significant drop in demand for its already operational hotels in the following period, but investments in new extensive projects will be much smaller.
"I believe the hotel market will reach a level similar with that of 2008 in 2009, with a plus or minus 2% variation. Last year was incredible, with very good revenues and it was normal that we should see a smaller increase against 2007. Such growth cycles come at certain time intervals, and I believe Romania will have a boom like last year in 2010, should infrastructure investments be operated," explains Yehuda, who specifies that there will not be many projects on the hotel market in the following period, given the international context.
This year, the market has seen the highest number of rooms added in recent years, after Radisson SAS five-star hotel on Calea Victoriei, with 424 rooms, and the four-star, 1,500-room Rin Grand hotel, both opened. At the same time, the renovation of former Turist hotel in Bucharest, which has become Ramada Plaza, has been finished. Ramada Plaza has a 300-room capacity and Best Western Parc, which will enter the same Ramada umbrella, has 267 rooms.
According to Yehuda, Ramada Plaza, which registered a 48% occupancy rate after six months, will see traffic add up during the following period. He also specified the hotel would not be hurt too much by the international crisis. "I'm upbeat as regards the hotel's 2009 results. I believe that those who preferred five-star hotels will shift to four-star ones and we'll stand to gain," says Yehuda.
Parc company, including both hotels, will register turnover worth 14m euros this year, according to estimates from the company's representatives, with event and food & beverages segments to contribute by around 30%, Parc accommodation revenues by 30% and Ramada Plaza revenues by around 30%. "Parc hotel will be less affected by the crisis, as 60% of customers are Romanians," says Yehuda, who believes Romania is an important market for many companies and will not feel the crisis fallout as strongly as Italy, France or Great Britain.
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