Rin Grand Hotel Bucharest: up to 20% higher revenues in 2009

Ionut Negoita, one of the owners of the 4 star Rin Grand Hotel Bucharest, foresees 13-20% increase in revenues this year, compared to 2008, when the hotel registered EUR 15 mil. revenues.

The average occupany rate was 30% in 2008, and is expected to increase up to 35% this year.

Rin Grand Hotel has over 1,400 rooms and 42 conference halls, and half of the 2008 revenues were generated by the events hosted by this hotel.

Last year revenues covered the operational expenses and the depreciation expenses, stated Ionut Negoita, who estimates a 10 years investment return. The initial hotel investment rose to EUR 60 mil.

Sursa: Daily Business [29.01.2009]