The occupancy rate of the hotels in Bucharest, one of the biggest indicators of the hotel business, witnessed an average increase rate of 5% in the first quarter of this year after having seen this indicator go down for well over a year, on a market put at 570 million euros in 2009.
“The first quarter of this year was better compared with the same time of last year. We saw a higher occupancy rate, despite the economic context that remained bad,” said Adrian Adam, sales and marketing manager of five-star Radisson Blu hotel in Bucharest.
As a result of the decline in occupancy rates and average accommodation prices, the hotel market posted about 34% drop in revenues to 570 million euros, consultant Trend Hospitality reveals.
Five-star Howard Johnson hotel, too, reported an increase by five percent to 45% of the occupancy rate in the first three months, but also posted almost 11% lower revenues.
Players on the market say that although occupancy rates were slightly higher in the first quarter, revenues were lower, because of the almost 30% price cut operated last year in order to attract business clients, who generate the highest revenues.