Hospitality consulting companies in Romania: up to 20% fall in the first semester

The consulting companies in the hospitality industry follow the decreasing trend of the market, registering approximately 15-20% drops of the business in the first six months.

The specialists consider that the market will slightly recover in the second part of the year.

Paul Marasoiu, General Manager of Global Management Peacock Hotels stated that the fall registered by the hospitality industry until May 2009 doesn’t exceed 18-20% at national level compared to the same period last year, while in Bucharest the decrease was not higher than 15-17%.

Tinu Sebesanu, CEO of Trend Hospitality, considers that the hospitality industry registered a decrease by 35% in the second quarter, as several companies reported significant losses.

Sebesanu identified among the factors generating the decrease, the declining number of visitors, especially on business travel segment starting with May 2008, but also the decrease of average length stay of existing visitors from 1.7 down to 1.3 nights.

Moreover, Sebesanu stressed that revenues declined 22% within the consultancy company he manages, while profit dropped 38%.

Another important market player, Fivestar Hospitality, managed by Sorin Ionescu, reported double revenues for the second quarter in 2009 compared to the similar period of the last year, although the economic context disadvantages the companies on this market sector.
 
The representative of Fivestar Hospitality stated that the hospitality industry begins to show the first signs of recovery.

Concerning the local consultancy market for hotels, Sorin Ionescu stressed that investors show a prudent attitude within the present economic context, as it became unlikely to work without a pre-feasibility or feasibility study. 

The representative of Fivestar Hospitality estimates that the consultancy sector for hotel industry will grow by 50% this quarter.

Sursa: Business Standard [09.07.2009]