Stil investment recovered in 4 years

Bucharest-based Stil Hotel anticipates 60% occupancy rate in 2003, which would allow it to break even in three to four years, Dragos Paraschiv, general manager of the hotel said. The hotel, dedicated on Thursday following a 1.3 million euro investment derived from banking loans, is held by M&T Market & Trade Professional, controlled by two families of Romanian citizens. Stil has 30 rooms and can accommodate 52 people. All rooms have air conditioning, Internet access and cable TV. The hotel also has a restaurant that can accommodate 50 people. A room costs 69 euros. Stil is currently employing 20 people, as specified by Paraschiv. Stil Hotel is located in Northern Bucharest in the Aviatiei area, where both residential complexes and major office buildings are now under development. The hotel will, therefore, target both the business community and the Romanian or foreign tourists. ZF