Bucharest-based Grand Hotel Marriott's turnover did not budge in the first half, so that it expects to see no more than 3% growth for the entire year compared to 15% higher sales last year.
Its officials say the hotel market in Bucharest is going through a time of stagnation in revenues or even a slight decline this year, so that a 3% turnover growth would be a better than average result.
They say the average growth pace in 2002 was that high because 2001 was the first year in business for the hotel so that revenues were lower as in the case of any new business in the first year. In addition, the hotel was possible to use only partially.
At any rate, every country's tourism industry has been severely hit by the war in Iraq and by the SARS epidemic, which sent hotel, airline and travel agency revenues plunging this year. The data provided by the hotel show the take-up in the first half to have been 63.9%, about the same as last year (64%). The hotel accommodated approximately 76,500 guests in the first six months of the year.
Tariffs at the Marriott start at 185 euros/night for one room and may go up to 800 euros/night for the presidential suite. Prices are negotiable and volume discount is also an option, according to the company's representatives. About 95% of the guests staying at the Marriott are non-residents.
Grand Hotel Marriott posted $23 million turnover last year and had 110,000 guests, which accounts for a 15% turnover increase and a 10% rise in the number of guests from the previous year.
The data show the revenues that went up this year are those derived from bars, restaurants and from event planning, which means revenue is largely obtained from Romanian clients. Unlike accommodations, where non-residents account for almost the entire demand, 70% of the companies to have organised events at Marriott were Romanian and the rest up to 100% were foreign, the hotel representatives say.
The "Food & Beverage" (F&B) - restaurants and bars - revenues went up 3.3% in the first half, during which the hotel hosted 1,395 events, more than last year.
The hotel comprises 402 rooms and suites, five restaurants and bars, plus ten conference rooms, which can accommodate more than 1,500 people.
The same building hosts the World Class Health Academy (the largest rest and relaxation centre in Bucharest) and a shopping gallery, with a multiplex cinema set for construction, as well. There is also a Class A office space segment, Grand Offices, which takes up 12,000 sqm.
Accommodation-related revenues accounted for 60% of the turnover last year, with the remaining 40% derived from restaurants, bars and event organising.
Dedicated in November 2000, The Grand Hotel Marriott, the largest hotel complex in Romania made a powerful impact on the luxury hotel market in Bucharest.
A recent survey conducted by the Federation of Hotel Industry in Romania (FIHR) shows the five five-star hotels in Bucharest total 1,326 rooms and account for 26.7% of the total accommodations in Bucharest.
georgiana.stavarache@zf.ro
Pentru alte știri, analize, articole și informații din business în timp real urmărește Ziarul Financiar pe WhatsApp Channels
