International turnover, 20% up

Sinaia-based International Hotel last year logged some $1.6 million turnover, up 20% from 2001, Matei Alexandru, general manager of International SA, the company that owns the hotel told Ziarul Financiar. “The 2002 profit reached about 10bn ROL ($0.3 million), which will be reinvested in the modernisation of the hotel,” Alexandru added. The investments will also be financed with the funds obtained from an ongoing capital increase worth 12.8bn ROL. “We have invested some $1.5 million in this hotel since 2001. The modernisation will continue this year, with the hotel actually closed from March 10 until early April, but the investments will be somewhat lower,” the company manager said. The company is planning to see its financial indices up by at least 30% this year, according to Alexandru. ZF