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General manager of Athenee Palace Hilton, Friederich Niemann, considers that the hotel market, including the unit he’s managing, will register a demand drop as a result of the financial crisis but the real impact is hard to be evaluated at present.
Niemann believes that on medium and long term, the market in Bucharest could assimilate three, four new hotels, but it would be better if other locations don’t open.
The effects of crisis had an impact on Hilton hotel starting September, when the occupancy rate dropped. However, Hilton’s manager still declares that the unit is in the estimated budget for the current year.
For 2009, Neimann specified that there are no estimations made to increase budget. In 2007, Hilton registered approximately EUR 21 mil. turnover.
Approximately 80% of the unit’s revenues are generated by business tourists including accommodation as well as events, while 20 % from leisure segment.
Hilton’s representative believes that it will not come to a prices battle trying to attract more clients. It is not recommended to have high prices and an empty hotel as it is not good for business to apply dumping prices and we don’t try to do so either, stated Neimann.
The company plans to expand on the local market and to affiliate other hotels both in Bucharest and in big cities such us Cluj, Timisoara and Sibiu.
Sursa: Ziarul Financiar [24.11.2008]
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Fivestar Hospitality Consulting 
