Five of the most important hotel owners in Romania, George Copos, Mohammad Murad, Josef Goschy, Ionut Negoita and Octavian Lazar, who own together over 8,000 rooms in hotels across the country, accounting for approximately 2.5% of the accommodation capacity in Romania, registered revenues lower with EUR 25 mil. from the hospitality industry in 2009, compared to 2008.
In 2008, the hotel businesses of the five entrepreneurs reached EUR 90 mil.
Although they reported dropping occupancy, even under 50% and reduced accommodation tariffs by 40% in some cases, the five owners claim that they registered profit last year, but not everyone mentioned its value.
Ionut Negoita, owner of Rin Grand Hotel, Confort Traian, Confort Otopeni and Rin Otopeni in the capital, stated that the hotels reported a lower turnover by 20% in 2009, down to approximately EUR 14 mil., for all hotels in portfolio. Rin Grand Hotel reported the highest revenues, of EUR 9.1 mil., specified Negoita. Facing the low occupancy rate, Ionut Negoita made the decision to turn 250 rooms of Rin Grand Hotel into office spaces, currently under process.
Negoita brothers are waiting for the economic recovery in order to budget investments in other hotel projects outside the capital.
George Copos businessman, controlling seven hotel units through Ana Hotels company, posted revenues of EUR 26 mil. in 2009, decreasing compared to EUR 41 mil. in 2008.
Josef Goschy, owner of Unita Turism company, reported a 20% decline of turnover compared to 2008, down to EUR 10-11 mil. and a decreasing profit from EUR 3 mil. to EUR 1 mil., the first decrease in the past 5 years.
Mohammad Murad, President of the Perla Majestic group of companies, stated that the profit margin reached 12%, considering that revenues of the 4 star hotel Phoenicia located in the northern area of the capital dropped 35%, down to EUR 8.5 mil.
Lazar family, main shareholders of Caro Hotels hotel complex, posted EUR 2.5 mil. turnover in 2009, decreasing by 37.5% compared to 2008, according to the statements of Octavian Lazar.
Sursa: Ziarul Financiar [27.01.2010]
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Fivestar Hospitality Consulting 
