Coral Beach 5 star hotel in Mamaia resort to open this summer

Mohammad Murad businessman, owner of Perla Majestic group, will open his first 5 star hotel at the Romanian seaside this summer.

Coral Beach hotel, located in Mamaia resort, required EUR 15 mil. investment and will have a capacity of 1,200 bed places.

Murad stated that the hotel employed 100 persons and 100 more will be hired soon. The hotel will operate with 400 employees.

The businessman forecasts annual revenues of EUR 5 mil. and occupancy over 90% for the seaside hotel. 

Murad specified that Phoenicia Grand Hotel in Bucharest reported 57% occupancy in the first three months of this year, increasing compared to the same period last year, when the occupancy reached 48%. Revenues for the first trimester of 2010 are estimated at approximately EUR 1.5 mil.

Sursa: Ziarul Financiar [06.04.2010]