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In the first quarter of the year, Bucuresti Turism, owning Radisson Blu hotel in Bucharest, 5 star classified, reported a turnover increase by 14% up to EUR 5.54 mil. and a gross profit of EUR 1.12 mil., after the EUR 5.91 mil. loss, registered in the first three months of 2009.
The profit is the result of reevaluating the long term debt, as a result of a lower RON/ EUR exchange rate. The other company listed on the Stock Exchange, Intercontinental Bucharest hotel company, RCHI, owning the hotel with the same name in the capital, posted decreasing revenues by 11%, down to EUR 2.62 mil. Compared to the same period in 2009, the company reduced loss from EUR 1.08 mil. to EUR 0.79 mil.
Intercontinental is valued at EUR 17.54 mil. on Bucharest Stock Exchange, while Bucuresti Turism is valued at EUR 20.41 mil.
Sursa: Ziarul Financiar [14.05.2010]
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Fivestar Hospitality Consulting 
