Ana Hotels, Unita Turism and Continental Hotels continue their investments this year

Following one year of business decrease or stagnation, the main hotel chains in Romania will continue their investments this year, although some of them are up to the economic evolution.

Ana Holding, Unita Turism and Continental Hotels companies count on the slight recovery of the demand this year and increase of occupancy in accommodation facilities. Average tariffs will maintain to the last year level.

This year, Ana Holding will invest EUR 12 mil. mainly in assets from tourism and hospitality industry.

George Copos, owner of Ana Holding, stated that investments such as in hotels located in Poiana Brasov mountain resort have already been started, while others like those from Crowne Plaza and Athenee Palace Hilton in Bucharest will start soon. 

In 2009, Ana Holding posted EUR 26 mil. turnover, while for 2010 the company forecasts 2% increase, considering that it planned to cut expenses compared to last year level. In 2009, Ana Holding invested EUR 1 mil. in hotel units.

This year, Ana Hotels will maintain the last year’s tariffs. In 2009, the average occupancy of Ana Holding units was 49%, while for 2010 the company forecasts a rate of 51%.

Josef Goschy, owner of Unita Turism, stated that investments of EUR 1 mil. for upgrading Traian Hotel in Braila have already been started.

Further works in large investment projects, such as Amfiteatru - Panoramic - Belvedere complex located in Olimp seaside resort, depend on this year revenues trend. Unita Turism has already invested over EUR 2 mil. in the complex.  

In 2009, Unita Turism posted EUR 10-11 mil. turnover, declining by 20% compared to 2008. Unita Turism made investments of approximately EUR 2.2 mil. in 2009.

Goschy stated that, unlike last year when rates were reduced by approximately 30% compared to the level of 2008, this year tariffs will maintain to the same level as in 2009. The average occupancy in hotels owned by Unita Turism was 36% last year, compared to the 50% occupancy reported in 2008.

Radu Enache, President of Continental Hotels, announced that investment projects in four hotels located in Bucharest and Timisoara are put on hold for the first half of the year, due to the economic crisis.

Enache stated that financial support of approximately EUR 22 mil. is available for these projects and that investments continuity is one of this year objectives. However, re-launching the investments is up to the market evolution. If the situation fails to improve, Radu Enache considers selling certain assets or finding a strategic partner.

The company forecasts EUR 25.7-25.9 mil. turnover for this year, a similar level to the result of 2009. The owner of Continental Hotels specified that tariffs dropped 8% in 2009 compared to 2008.

The average occupancy of Continental Hotel units was 48% last year, compared to 60% in 2008. For the current year, the company estimates the occupancy will reach 55%.

Sursa: Financiarul [04.02.2010]