Golden Tulip plans to affiliate 6 more hotels in 2007

Golden Tulip hotel network will add another six hotels next year, mainly located in major cities of Transylvania, bringing the number of hotels it has affiliated in Romania to ten, stated Paul Marasoiu, the chain’s manager for Romania, Bulgaria and the Republic of Moldova yesterday.
“The four hotels we have franchised so far, located in Bucharest, have logged very good results, with Romania being among the most lucrative new markets for Golden Tulip. We will shortly sign the first contract for Bulgaria, too, and next spring we will also affiliate a hotel in the Republic of Moldova,” added Marasoiu, on the occasion of the first anniversary of the affiliation of the Times hotel in Bucharest.
Included in the four-star category, Golden Tulip Times reached the average occupancy rate for Bucharest in the first year and will attain a level of 68-69 percent by yearend.
“We expect this year’s turnover to reach 1.5 million euros and for 2007 we are targeting growth by around 30 percent. At the same time, we want to maintain the upward trend in terms of the occupancy rate and to have an average of 73-74 percent,” stated the general manager of the hotel, Costina Gandac.
Beside accommodation and restaurant services, a significant part of revenues comes from event organising, which accounts for 15-20% in the total revenues.
Golden Tulip Times was opened last year, with total investments revolving around eight million euros.
According to the general manager, the investments are due to be recouped in 6-8 years, given the occupancy rate and the size of the hotel.
“The benefits of being affiliated to the Golden Tulip network include access to an international distribution channel and the possibility of operating a bigger average tariff than the domestic market would allow,” explained Marasoiu.
As regards the impact of the Sommet de la Francophonie over the activity of the hotel, the management stated the event would not have a major influence considering that September is, anyway, one of the busiest periods of the year for Bucharest hotels, with the occupancy rate of the hotel reaching 80 percent.
Golden Tulip Dutch company is a private franchise firm including approximately 250 hotels in 37 countries, mostly located in urban centres of Europe, the Middle East and Africa.
The two brands of the group are Golden Tulip, for the four and five-star hotels, and Tulip Inn, for the three-star hotels.
In Romania, the network comprises four hotels: Golden Tulip Times, Golden Tulip Sky Gate, Golden Tulip Bucharest and Tulip Inn Bucharest City.