Continental Hotels and Unita Turism reduced the financial estimates for 2010

Radu Enache, President of Continental Hotels, stated he would be content to reach the same level of revenues as last year, when the company’s turnover dropped by 24% compared to 2008, reaching EUR 21.2 mil.

In the first semester this year, Continental group registered revenues approximately at the level reported in the same period last year, considering that accommodation capacity of the group increased by 15%, stated Radu Enache. The average occupancy of Continental Hotels units was of 51-52% in the first semester, while the estimates for 2010 indicate an average occupancy of 53%.

The President of Continental Hotels stated that they are currently working at a stress scenario, focusing on cutting expenditures. Therefore, the group gave up approximately 300 employees, their number reaching 917 at present and suspended investments worth EUR 22 mil. this year, after spending EUR 8.5 mil. in 2009 for modernizing and re-classifying  Grand Hotel Continental.  

The President of Unita Turism, Josef Goschy, stated that the group’s revenues, which cumulates 3,500 rooms, dropped by approximately 10% in the first six months of the year compared to the same period in 2009.

This year, Unita Turism reduced tariffs by 8-10% compared to last year level, but this did not result in stimulating demand, the average occupancy in the first semester of Unita Turism units being 28%, lower than in 2009, when the average occupancy was 35%.

For the current year, Unita Turism envisages EUR 10 mil. turnover, decreasing compared to 2009, when the turnover reached EUR 10.5 mil.

At present, the hotel owners in Mamaia resort register a decrease in tourists’ number by 30% compared to last year, due to bad water.

Nicolae Bucovala, President of Mamaia Owners Association, expects a decrease in tourists’ number by 5-10% for the current season, following the decrease by approximately 5% in 2009.

Dragos Raducanu, General Secretary of the National Association of Tourism Owners, FPTR, estimates that tour operators will register business decrease by 40% compared to 2009, while the hotel owners businesses will decline 15-20%.

Sursa: Financiarul [15.07.2010]