Rin Grand Hotel Bucharest closes down 300 rooms

Due to the present situation on the hotel market, Ionut and Robert Negoita brothers, owners of Rin Grand hotel in the capital decided to close down 300 rooms of the unit, accounting for 20% of the accommodation capacity.

Ionut Negoita specified that the present situation will continue until next Spring.

Negoita stated that in the first semester the unit registered an occupancy rate of 27%, dropping compared to the occupancy rate of 30% reported the first semester last year.

More, the demand of companies for event segment decreased as well as demand for accommodation, stated the businessman.

Ionut Negoita stated the hotel’s situation in the first semester of the year is worse than it was expected and considers measures to reduce losses generated by low occupancy rate.

Although a number of rooms were closed, Negoita will not consider the hotel reorganization. .
In the first semester, Rin Grand reported a turnover of EUR 5.2 mil., compared to EUR 6.3 mil. the same period last year.

In 2008, the hotel registered revenues of EUR 13 mil. according to the data provided by the shareholders.

Sursa: Ziarul Financiar [15.07.2009], Ziare.com [15.07.2009]