Romania''s hotel industry, rated as one of the most attractive businesses in terms of its high growth potential, has recently attracted not only strategic investors, but also projects developed by domestic entrepreneurs or companies from other domains of activity. British company Polycom, operating in the chemical industry, will next week launch a four-star hotel in the Poiana Brasov mountain resort. The investment stands at five million euros and the hotel closely resembles Bran Castle in terms of architecture.
"The hotel market is highly attractive. As far as I know, this segment has seen the highest growth rate in Romania. This made Polycom enter this business," Florin Nitulescu, general manager of the British company''s local office, told Ziarul Financiar. Polycom has been operating on the domestic market for eight years through a representative office.
The British company entered the Romanian hotel market last year with investments worth one million euros in a four-star guesthouse situated in Polovraci, Gorj County.
An increasing number of international hotel chains such as NH Hoteles (Spain), Golden Tulip (Netherlands) and Ramada (the US), have announced their entrance onto the hotel market through the opening of business hotels, especially on the 3-4 star segment. NH Hoteles entered the Romanian market with two hotels, Golden Tulip similarly established two hotels, while the Accor group built another Ibis hotel, in Constanta.
At the same time, multinationals are seeking accommodation for their employees and this has led to a significant shortage on the hotel market. According to market sources, in Bucharest alone the number of rooms available is at least 2,000 lower than demand.
The trend is expected to continue at least until the moment Romania joins the European Union.
Polycom''s investment in Poiana Brasov is a hotel "conceived at the level of five stars", but it is included in the four-star category because of the number of rooms, which is below the minimum 20-room imposed level.
"We estimate we will recoup the investments made in about eight years," says Nitulescu. He specified that all the rooms have been already booked for New Year''s Eve party.
The hotel has seven levels, 17 rooms furnished in a retro style (five single, seven double, two suites and three apartments), two restaurants (with an international and Italian menu), a conference hall (up to 200 seats) and a spa. Prices per room range between 100 and 250 euros per night, while the New Year''s Eve party packages are priced between 2,850 ROL (792 euros) and 8,400 ROL (above 2,300 euros) for four days.
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