Phoenicia reports profit worth 1.5 million euros

The Phoenicia hotel, one of the investments made by the Triumf Construct group, which operates on the four-star hotel market, recorded profit worth 1.5 million euros and turnover standing at 8 million euros within the first year of opening. “In the first year, the hotel has witnessed a positive development. Like any other business, we faced some obstacles at the beginning, but we overcame them and now the hotel competes with the other top four-star hotels in Bucharest,” says the hotel’s general manager, Dinel Saizu. The hotel was opened in October 2005 and was the first investment the company made within this sector. It is also one of the few Romanian four or five-star hotels which is not part of an international chain and which is run by Romanian managers. The Phoenicia hotel targets businesspeople, a group that accounted for approximately 70% of its clients last year. Most of them are Romanian businesspeople, followed by Italian, French and German business travellers, according to Saizu. The company estimates the turnover will rise by 20-25% this year to approximately 10 million euros. The hotel reported an occupancy rate of 67% last year and expects the rate will rise to 75% in the coming year. “This is a good occupancy rate, considering the size of the hotel and the fact that it was our first year since opening,” said Saizu. Phoenicia boasts a total of 348 rooms, 10 conference halls, 4 restaurants, a casino and a nightclub.