Head of five-star hotel pessimistic about Romanian economy in 2010

Ali Yilmaz Yildirimlar, 42, running Radisson Blu five-star hotel of Bucharest, is confident 2010 will bring no positive changes in the Romanian economy and wonders “how can this year be better than the previous year when we can hear people talk about tax changes and street protests”. Yildirimlar says 2010 will be another challenging year and his arguments describe a real chain of weaknesses: “if corporate clients do not have cash flow, they will organise no trips, which entail accommodation, or business events. At the same time, the fact that no more foreign investors are coming for business can be seen in hotels’ occupancy rates”. Almost 70% of the clients of Radisson Blu, the five-star hotel boasting the biggest capacity in Bucharest (424 rooms), are foreigners, arrived here for business, and just 30% are Romanians, according to Yildirimlar. Radisson Blu is owned by Bucuresti Turism (BUTU) company, which also controls Centreville Apart Hotel complex. In the first quarter, the company saw its turnover rise by 14%, to 22.8m RON (5.5m euros) and stepped into the black with gross income worth 4.6m RON (1.1m euros), after having posted losses of 25m RON (6m euros) in the first quarter of 2009.