According to a report provided by STR Global, the occupancy rate of hotels in Bucharest dropped to 34% in January 2009, 30% less than compared to the same period in 2008. The study included 13 hotels in the capital, classified from 3 to 5 star.
Bernadette Koltai, Sales Manager within STR Global, stated the average price per room dropped by approximately 38% in the first month of 2009 compared to the same period in 2008.
Bernadette Koltai also specified that tariffs’ reduction is one of the most common mistakes of companies in the hotel industry in crisis periods. It was noticed that when a hotel drops tariffs it takes several years to go back to the initial tariff, said Koltai.
Sorin Ionescu, Managing Partner within Fivestar Hospitality consultancy company, explained, providing as example an international study prepared by Cornell University, that hotels dropping rates as a result of the low occupancy rate registered decreases of RevPar, while the units maintaining tariffs registered an increase of RevPar, even with decreasing occupancy rate.
Sursa: Bloom Biz [17.03.2009], Financiarul [17.03.2009], Gardianul [18.03.2009], Money Channel [17.03.2009], Travel Manager [18.03.2009], Wall-Street [17.03.2009], Ziarul Financiar [17.03.2009]
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Fivestar Hospitality Consulting 
