Kurt Strohmayer, General Manager of JW Marriott Bucharest, stated the international hotel chain plans to expand through opening three new units in Bucharest, Cluj and Timisoara.
Strohmayer stated within the Hotel Investment Forum that the total value of the investments is unknown at present.
The General Manager of JW Marriott Bucharest also specified that Romania’s market is opportune for opening new hotels, as prices on lands and estates dropped by 40-50% in the past six months.
The GM added that Romania’s hotel market has a shortage on 2 and 3 stars hotels segment, while the luxury hotels supply cover the demand.
Sursa: Nine o'Clock [18.03.2009], Wall-Street [18.03.2009]
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