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The economic crisis led to blocking investments worth over EUR 348 mil. in hotel units in Romania, mainly 4 and 5 star classified and reactivating them will not be possible sooner than in 2 years, as the business travel segment declined by 10% in the first quarter of 2010, compared to 2009. Mainly, the completed projects are those with an average value of maximum EUR 20 mil., considers Tinu Sebesanu, CEO of Trend Hospitality consulting company. By the end of the last year, the investments for the next 2-3 years reached approximately EUR 581 mil., according to a study of Trend Hospitality.
EUR 531 mil. represented investments in 33 properties, upscale segment, out of which 1,960 rooms in eleven 5 star hotels and 2,404 rooms in 4 star hotels.
Investments in six 3 star units cumulated 663 rooms, estimated at less than EUR 40 mil.
On the 2 star segment, investments of EUR 10 mil. in two units with 251 rooms in total were undergoing by the end of last year. At the same time, several international hotel chains, such as Hilton or Louvre Hotels & Golden Tulip have recently announced their intention to develop hotels in Romania on medium term, both on luxury and 1-2 star segments. Louvre hotel chain, Golden Tulip group partner, plans to open over 20 units, 2 or 3 star classified, in Romania, within 3-4 years. Nord Grup company, hotel developer of Golden Tulip Palladium, 4 star in Bucharest, decided to postpone again until March 2011 the unit’s opening, due to the financial crisis. Initially, the hotel’s opening was scheduled for 2008. Golden Tulip Palladium will have 144 rooms, six conference halls, restaurant, bar, spa. The investment reaches EUR 18 mil.
Adela Cristea, Development Manager Europe & Africa al Hilton Hotels, announced that DubleTree hotel will open in Oradea by the end of the year and Hampton hotel in Brasov, with 104 rooms, will open next year. For Hilton Garden Inn, Adela Cristea stated that the location has not been found yet.
Sursa: Financiarul [13.05.2010]
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Fivestar Hospitality Consulting 
