|
InterContinental Hotel in Bucharest, 5 star classified, requires a complete upgrading which implies changing all systems, including structural system and replacing lifts, in order to become competitive, shows a study carried out by a German company. The conclusions of the study were presented in the report of administration of the InterContinental hotel company, RCHI. Hotel’s managers stated that the necessary investment to completely rehabilitate the hotel exceeds EUR 35 mil. The upgrading project and financing solutions will be debated within an extraordinary meeting of the shareholders scheduled for the current month. In 2008, InterContinental registered losses of EUR 2.6 mil, two times lower than in 2007 and a EUR 13.77 mil turnover, slightly decreasing compared to 2007. The company cumulated total losses of over EUR 22.5 mil. in the past 5 years. In the first quarter of this year, InterContinental registered a turnover decrease by 8 to 12%. Compared to the similar period in 2008, the share of business travels increased, unlike the event segment, stated Marten Schoenrock, General Manager of InterContinental Hotel Bucharest. The GM of InterContinetal optimistically estimates that the 5 star hotel market will become more stable by the end of the current year.
RHIC Holding Swiss company controls 50% of hotel's shares.
Sursa: Business Standard [06.05.2009], Ziarul Financiar [05.05.2009]
|
Fivestar Hospitality Consulting 
