Continental's two-star Hello Hotel will generate 2m-euro business

The Hello Hotel close to Gara de Nord (North Railway Station) in Bucharest, the first two-star hotel of the Continental chain that opened early in October will generate two million euros in turnover in its first year in business. The Continental chain is controlled by businessman Radu Enache and currently numbers 15 hotels, which are estimated to generate 31-32 million euros in turnover. The Hello Hotel has a 150-room capacity and required a 32,000-euro investment per room, which amounts to about 5 million euros. The 150 rooms are equipped with air conditioning units, LCD TV and Internet connection, with the hotel charging promotional rates of 45 euros at weekends and 55 euros during the week, according to the data provided by the operator. Entrance onto the two-star segment is one of the areas the Continental chain is counting on in its development plan that will see 36 hotels created by 2011.