Popoviciu derives 18% lower revenues from Hotels group

The Parc Hotels group, controlled by businessman Gabriel Popoviciu, which includes Ramada Plaza and Ramada Parc hotels in the North of Bucharest, posted a turnover worth 1.6 billion euros in the first quarter of this year, down 18% against the same time last year. Four-star Ramada Plaza and Ramada Parc hotels together have 567 rooms, and posted turnover worth 14 million euros last year. "Ramada Bucharest Parc had a 49% average occupancy degree at the end of the first quarter, while Ramada Plaza Bucharest had a 35% occupancy rate," said Daniel Ben-Yehuda, manager of Ramada Plaza and of Ramada Parc. This compares with a 57% average occupancy rate of the Parc hotel in the first quarter of last year. Gabriel Popoviciu also holds 5-star hotel Howard Johnson in Bucharest, which has yet to release its first-quarter financial results. With his three hotels, which together have over 850 rooms and post an overall turnover worth around 28 million euros, Popoviciu is, alongside George Copos, the biggest hotel owner in Bucharest, according to 2008 reports.