The Golden Tulip hotel network, which owns five hotels with a three and four-star ratings on the Romanian market, forecasts business worth over 20 million euros this year, up approximately 17-18% on last year. Four of the five hotels affiliated to Golden Tulip are in Bucharest, while one is in Cluj. Golden Tulip is set to expand on the provincial market over the next few years, both with four and three-star hotels, while its prime project is to establish the five-star brand Royal Tulip in Romania. "Royal Tulip is a five-star hotel brand, which will most likely be present in Romania in three years' time," said Paul Marasoiu, regional manager for Romania, Bulgaria and Moldova of Golden Tulip Hotels, Inns & Resorts. During the same period the company wants to enter the market with management contracts, while the five hotels currently affiliated to the chain are under franchise agreements. "Currently, the number of management contracts is increasing in Western Europe, but afterwards Romania will be among the first markets targeted," explained Marasoiu.
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