Positive Q1 results for hotels

Bucharest-based hotels posted positive results in the first quarter despite gloomier projections launched at the beginning of the year, which were caused by the perspective of a long war in Iraq. Not only did hotel owners not register losses, but also their revenues were above expectations in the first three months of the year. “The first quarter was very good for our hotel given that the revenues rose by almost 7% as compared to the same period of last year. Most customers came from the business segment and a significant rise was also registered on the conference and events segment,” Mioara Gheorghe, marketing and sales manager with Crowne Plaza, told Ziarul Financiar. “Over the first three months of this year, our hotel’s activity was unexpectedly buoyant”, said Dina Litzica, PR manager with Marriott Grand Hotel. She did not disclose the results, though, arguing the company policy did not allow her to do it. Radu Enache, Continental SA chairman in his turn said, “We have not drawn up a synthesis of our financial results as yet, but I can say that we not only attained the budget scheduled, but also exceeded our projections in the first quarter.” ZF