The hotel market in Bucharest will not know major changes next year regarding accommodation and events activities, considers Igael Porecki, the new General Manager of the 5 star hotel JW Marriott Grand Hotel, who estimates that the business will grow by up to 4% in 2010.
Porecki stated that the occupancy declined 20% on the market in general, while revenues dropped by at least 22%.
The General Manager of JW Marriott stated the hotel revenues declined by 22% in the first ten months of the year, compared to the same period last year. The events segment generates 50% of the hotel’s revenues, while the other half comes from accommodation. Revenues are expected to increase by 2 to 4% next year.
The average occupancy of the hotel was 60% in the first ten months of the year. Occupancy is expected to reach 65% next year, according to Porecki.
He also stated that price cuts, between 5 and 20%, were negotiated with suppliers for JW Marriott hotel.
Upgrading works of the hotel will start next year. Over EUR 1 mil. will be invested to renovate Vienna Cafe area, Cupola restaurant and Grand Ballroom events hall. Furniture and carpets will be replaced and LCDs will be installed in the events hall.
Igael Porecki specified that Marriott hotel chain is currently negotiating the opening of other units on the Romanian market.
Fivestar Hospitality Consulting 
