Ionut Negoita, who, together with brother Robert Negoita, a PSD (Social Democratic Party) deputy, owns four-star Rin Grand Hotel, the largest hotel on the Romanian market, with almost 1,500 rooms, says up to 300 rooms will be temporarily closed down, amid a 27% average occupancy rate in the first six months of this year. "We started moving the furniture from the rooms of the Rin Grand hotel in the Traian hotel. We will modernise the 107 rooms of the Traian hotel, while at the same time closing down temporarily part of the rooms of the largest hotel," said Ionut Negoita, 35, one of the owners of the hotel. According to him, the Rin Grand Hotel derived 5.2 million euros in revenues in the first six months of this year, compared with 6.3 million euros in the same period of last year. Considering the hotel's 1,500 rooms, revenues per room per day amounted to 19 euros, which means the hotel is still in the red, after an overall investment of 60 million euros, which partly comes from credits and partly from the Negoita brothers' own resources. Most hotels in Bucharest have seen an up to 40% fee decline, and are operating at less than 50% occupancy rates, amid a decline in business traffic, which generates over 80% of the turnover of Bucharest hotels.
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