Bucharest-based hotel Ibis, held by Continental Nord SA, posted 191.7bn ROL (5.06m euros) in turnover last year, some 16% more than in 2002, the hotel's managing director Ilie Calin said. "The investment budget will be spent only if the hotel really needs refurbishment," Ilie Calin stated. The Ibis hotel accommodated 83,051 clients, with foreigners accounting for 75% of the total number of guests. The average occupancy degree for the entire year 2003 was similar with the previous year's - 74.2%. The hotel was opened in June 2001, following an investment of some $14m. ZF
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