Continental Hotels: turnover decrease by 6% in Q1

In the first quarter of the current year, Continental Hotels hotel chain posted a lower turnover by 6% compared to the same period last year. In 2009, the hotel chain registered EUR 21 mil. turnover, by 19% lower compared to the previous year.

The average occupancy of the hotels included in Continental portfolio was 46% in the first quarter of the year, a similar level to the same period last year. Radu Enache, Chairman of Continental, specified that the average tariff was lower than last year. 

The hotels part of Continental chain cumulate 14 hotels and 2,500 rooms, classified from 2 to 5 star.

The businessman stated that the hotel chain does not plan to hire new personnel or to increase salaries. Also there will be no more bonuses and managers willl only work under management contracts, while a part of the existing employees are hired as authorized persons. The number of employees reached 730, compared to 1,100 employees in the first quarter of last year.

Sursa: Ziarul Financiar [28.04.2010]