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The economic crisis impacts on decreasing the demand and occupancy rate of hotels in big cities and also on increasing the competition, through permanent accomodation rates falls, stated Mircea Draghici, project manager on hotel division of real estate consulting company, CB Richard Ellis Eurisko, CBRE. Moreover, the financial crisis had an impact on cost of credit, through the increase of interest at the existent credits and the new ones. These unbalances made hotel investments facing cash-flow and profit difficulties. In a market deprived of liquidities, an excessive supply of accommodation facilities appeared without any solvable demand, explained Draghici. In 2008, the supply of accommodation increased by 30% in Bucharest compared to the previous year, due to new large hotels opening, reaching 10,300 rooms, according to CBRE. The problem of liquidity to complete constructions or to financially support other projects led to putting on sale over 20 units, valued by owners at EUR 80 mil. At present, there are several hotels for sale at the seaside, on Prahova Valley, in Bucharest and large cities such as Sibiu, Brasov, Timisoara, stated Mircea Draghici. Unita Turism is one of the companies putting assets on sale, 6 properties out of which, 2 star hotels Central in Suceava, Transilvania in Targu-Mures, Onix and Safir in Cap Aurora seaside resort and 2 hotels plus 2 restaurants and a camp site in Fantanele resort, Cluj county. These hotels account for 18.6% of the owned accommodation capacity, and the selling price is EUR 25 mil. The owner of the 4 star NH Hotel in Unirii Square put the unit on sale for EUR 16 mil. Another hotel for sale in Bucharest is Stil Hotel, owned by Alin Burcea, for EUR 3.8 mil. According to Imobiliare Expert Group website, other hotels for sales are: a 3 star hotel in Unirii area in Bucharest for EUR 10.6 mil., a 3 star hotel in Dorobanti square, one in Stefan cel Mare area and also a hotel in Sinaia for EUR 16 mil.
Sursa: Ziarul Financiar [18.05.2009]
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Fivestar Hospitality Consulting 
