Crowne Plaza posts 34% turnover decline

Bucharest five-star hotel Crowne Plaza, held by businessman George Copos, ended the first half of the year with an almost 3 million-euro turnover, a 34% decline against the same period of last year, according to company representatives.

“We think the second half will not be different from the first, and that things will remain the same on the market until the end of the year. In the first six months we recorded somewhat steeper declines than we had expected,” said Irina Frumuselu, sales coordinator of Crowne Plaza.

Most of the hotel’s guests – over 85% – are corporate clients, which is in fact the case for most Bucharest hotels. The decline in Bucharest’s business traffic also generated a fall in the hotels’ occupancy rates, to as little as 27% – in the case of four-star hotel Rin Grand Hotel, held by the Negoita brothers.