Marriott's revenues down 22% ten months into the year

The new general manager of JW Marriott Grand Hotel, Israeli
Igael Porecki, who took over at the helm of the largest five-star
hotels on the Bucharest market at the beginning of August, says the
hotel’s revenues fell by 22% in the first ten months of the year
against the similar period of last year. “We are in line with the
market trend. The hotel’s average occupancy rate in the first ten
months of the year is 60%. We are hoping to reach 65% next year,”
said Igael Porecki, 59, who was general manager of Marriott and
Courtyard (a brand of the Marriott hotel) in Tbilisi (Georgia)
before coming to Bucharest. He did not specify what the hotel’s
revenues amounted to, but mentioned this year as being the most
difficult in his career as a general manager. “We are making
forecasts and updating the budget on a monthly basis. We are
looking very closely at costs and seeking to make more savings. For
next year we expect a 2-4% rise in revenues.” The number of hotel
employees is down from 390 last year to 325 this year, with the
decline being explained by Porecki through the employees’ voluntary
departures.