Confort group: turnover by 20% lower in Q1 2010

Rin Grand Hotel, Traian, Rin Otopeni and Confort Otopeni hotels in Bucharest, controlled by Negoita brothers, reported EUR 3.2 mil. turnover in the first three months of this year, by 20% lower than compared to the same period last year. Ionut Negoita stated that the profit is also severely impacted by the crisis.

The average occupancy maintained at the last year level, of 25% and has not influenced the decrease, stated Ionut Negoita. 

In 2009, the turnover of the largest hotel of Confort group decreased by approximately 25% down to EUR 9 mil., while the turnover of the four units controlled by the group reached approximately EUR 15 mil., according to the owners.

The poor results of the last year and the low occupancy led to the decision of Negoita brothers to close approximately 300 rooms of Rin Grand Hotel, cumulating approximately 1,500 rooms, in order to turn them into office spaces.

300 sq m out of the total 2,000 sq m aimed to office spaces have been rented. The rent is EUR 7/ sq m.

Sursa: Ziarul Financiar [13.04.2010]