The development plan of Ibis network in Romania announced in 2007, worth EUR 50 mil., of building 7 hotels under Ibis brand, will be completed in 2012, with a delay of 2 years compared to the initial date, stated Radu Enache, President of Continental Hotels chain.
Enache specified that the reasons for delay are related to bureaucracy for obtaining the construction permits, but also due to shortage of financing.
On September 22, Accor and Continental Hotels officially launched the fourth hotel under Ibis brand in Romania in Sibiu city.
The investment in the hotel unit with 195 rooms reached EUR 9.4 mil.
Andreea Gheorghiu, the hotel’s General Manager, stated that the average occupancy estimated the by end this year is 53%, while the revenues will reach EUR 700,000.
Continental Grand Hotel will open at the end of the next month, following EUR 8 mil. investment. The 5 star classified hotel with 60 rooms is located on Calea Victoriei in Bucharest. Enache foresees a turnover of EUR 2-3 mil. in the first year after opening.
Radu Enache expects the opening of the new hotels this year, Ibis in Sibiu and Continental Grand Hotel in Bucharest, to match the revenues in lei currency reported by the group last year.
Sursa: Daily Business [23.09.2009], Financiarul [24.09.2009], Money [23.09.2009], Smart Financial [23.09.2009], Business Standard [24.09.2009], Ziarul Financiar [24.09.2009]
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