George Copos is investing in upgrading hotels in Bucharest and Poiana Brasov

George Copos, businessman, who controls several hotels in the capital, at the seaside and in the mountain area, totalizing approximately 1,000 rooms, stated that his investments are focused on modernizing 5 star units in Bucharest and those in Poiana Brasov. At the same time, the businessman stated that now it is a good moment to invest, as prices halved. 2010 is expected to be a year of investments, as well.

In November 2009, the upgrading works of Athenee Palace Hilton and Crowne Plaza floors will be started.

The highest investment will be made in modernizing the hotel complex located in Poiana Brasov resort, which generated EUR 3.4 mil. turnover last year and attracted 2,500-3,000 British tourists. The investments budget allocated for Poiana and Sportul hotels reaches EUR 7-8 mil. Bradul Hotel has been already rehabilitated.

Copos specified that he does not plan to invest in developing new hotel units in other cities of Romania, but will continue to focus on the hotels he owns.

Since October 2008 until now, Copos dismissed 600 people, but he still has not succeeded to avoid a business decrease of over 20%.

The businessman stated that the Ana Holding group’s budgets have been revised three times this year and reduced in January, April and August.

The most impacted company was Ana Imep, with EUR 37.8 mil. turnover last year, where 300 people lost their jobs.

In addition to the dismissals made, George Copos has also applied a personnel relocation strategy, between seaside and mountain hotels, up to the season.

Sursa: Ziarul Financiar [27.10.2009]