Hilton aims at $20m turnover

Athenee Palace Hilton Hotel (Bucharest) concluded 2003 with $18 million turnover and anticipates at least 10% growth for this year as a result of the growing demand on the five star hotel market. This means nearly $20 million turnover for 2004. Last year’s results were influenced by the market strategy that included a cut in accommodation tariffs. “The increase in revenues would have been even higher had we not cut the average tariffs,” said Stefan Balaur, Athenee Palace Hilton’s financial manager. The company had planned to cross the $20 million threshold in 2003 given that its turnover had been lower than that in 2002. ZF