The three hotels together (the four-star Europa and Iaki and the five-star Rex) can accommodate over 400 guests.
Three of the best-known hotels on the Romanian seaside, Iaki (owned by former footballer Gheorghe Hagi), Rex (controlled by Adamescu family) and Europa (George Copos), are set to generate turnovers worth above 10m euros this year, with around 40% of this value to be derived during July-August summer months.
Given that it can accommodate 221 guests, Europa Hotel in Eforie Nord, owned by businessman George Copos, generates around 40% of the 3 hotels' turnover.
Europa Hotel has budgeted turnover worth 4.1m euros for this year, up 17% from last year. The hotel last year posted turnover worth 3.5m euros and a 46.5% occupancy rate, with the average occupancy rate expected to rise by around 4% this year. The hotel is part of the Ana Hotels group, together with Astoria, in the same resort, Crowne Plaza in Bucharest and another 3 hotels in Poiana Brasov. Of the revenues Copos gets at Europa hotel, around 50% come from accommodation, with the rest being derived from events and other activities.
Iaki Hotel owned by Gheorghe Hagi is poised to reach turnover worth 3.4m euros this year, while Rex is expected to exceed 3m euros in turnover, according to with ZF estimates.
According to Finance Ministry data, Mamaia SA company that owns Rex Hotel posted 2.4m-euro turnover in 2006. The Adamescu family bought Rex Hotel in 2006 from businessman Viorel Paunescu and other shareholders for 10m euros.
"In July-August, contributing 40% to total revenues, we expect the occupancy rate to hit 90%, from 78% last year," said Iolanda Nanu, manager of Rex Hotel, without specifying estimated turnover for 2008.
Until recently, Rex has been the biggest five-star seaside hotel, as it can accommodate around 100 guests. The 5-star segment includes, starting last year, Saturn, with a 68-room capacity, and starting this year Vega. With its 126 rooms, Vega will go beyond Rex hotel.
Seaside hotel owners will see their revenues go up mainly on the rising occupancy rate, but they are also considering rate hikes by around 5%.
Despite the Romanian seaside having lost clients to Bulgaria in recent years, seaside hotel owners are still boasting a high occupancy rate during summer.
To operate all year round, hotels also focus on event organisation.
The number of Romanian tourists that choose to spend their summer holidays in Black Sea resorts is likely to reach 1.4 million persons this year, up 15% from last year. At the same time, over 120,000 foreign tourists will come to the Romanian seaside this year, mainly from Germany and France. On the other hand, a rising number of Romanians choose to spend their holidays abroad.
Romanian seaside
The number of Romanian tourists that choose to spend their summer holidays at Black Sea resorts is likely to reach 1.4 million persons this year, up 15% from last year
At the same time, over 120,000 foreign tourists will come to the Romanian seaside this year, mainly from Germany and France
Despite the Romanian seaside having lost clients to Bulgaria in recent years, seaside hotel owners are still boast a high occupancy rate in summer
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