Crowne Plaza cashes $8.4m

Bucharest-based hotel Crowne Plaza logged $8.4m turnover last year, up from $7.1m in 2002, while the occupancy rate went up 22%. “We have exceeded our initial estimates for last year. October 2003 was the best month in the five years since the hotel was opened,” the hotel’s marketing director Mioara Gheorghe said. The hotel’s revenues climbed 19.2% in dollars, but remained almost unchanged in euros. The average occupancy rate climbed to 67.45% last year from 55.32% in 2002, according to data released by the hotel officials. Eighty percent of the guests at Crowne Plaza were foreigners. ZF