The average revenue per room in Bucharest hotels dropped 38% in 2009

The average revenue per room in Bucharest hotels dropped 38% last year, down to EUR 40 per night, compared to more than EUR 60 per night tariff in 2008, according to a report of CB Richard Ellis consulting company, CBRE - Eurisko.

At the same time, the average occupancy reduced by 27%, due to the crisis, from approximately EUR 120 down to slightly over EUR 80.

Regarding the occupancy, the hotels in Bucharest reported a decrease from 66% to 50%.

According to the report of CBRE - Eurisko, the number of arrivals in hotels in Bucharest in 2009 declined by 5%, from 950,000 down to approximately 900,000. The number of overnight stays also decreased by over 15%, from 2 mil. down to approximately 1.7 mil. 

The crisis also impacted the undergoing hotel projects through completion delays of minimum 12 months. Approximately 65% of the projects announced for opening were postponed for the second half of the last year, while approximately 5% of the total number of hotel rooms in Bucharest were put on hold. 

The hotel investments mainly envisaged 4 and 5 star units last year.

CBRE - Eurisko estimates that the hotel capacity in 2010 will increase on a lower trend than last year, while the offer of new rooms will register a 50% decline.

Sursa: Bloom Biz [02.03.2010], Curierul National [02.03.2010], Financiarul [02.03.2010]