Howard Johnson Bucharest sees 10m euros

Howard Johnson Grand Plaza Hotel in Bucharest dedicated two weeks ago targets 10 million euro revenues and 60-65% average take-up for its first year in business, general manager Antoni Kuhnen said. The hotel has seen 30% occupancy rate on the average in its first two weeks from dedication, which is in line with the management’s estimates. Howard Johnson Grand Plaza, the former Dorobanti Hotel, has 285 rooms and suites, in addition to restaurants, bars, conference halls totalling more than 1,000 seats, a health club and a two-level guarded underground parking. The total investment in the modernisation of the hotel amounted to some $30 million, with works beginning in 2000 and funded by a syndicated bank loan. The owner of the unit is Grand Plaza Hotel SA, which uses the Howard Johnson brand under a franchise deal. The hotel targets business clients and also has 2,400 sqm in total office space available for rent. It has a staff of more than 300. ZF