Unita Turism invests 2m euro in new hotel

Unita Turism SA is planning to refurbish a three-star hotel in Timisoara this year, with the investment estimated to total about two million euros, Marius Pintilie, economic manager of the company on Monday said. The project entails refurbishing a building of the group; the works are scheduled for completion by December 2003 or early next year. The Unita Tourism representative specified the new hotel was only a project at the moment. The 14 hotel companies controlled by Timisoara-based Unita Turism concluded 2002 with $10 million in consolidated turnover, which is anticipated to grow by 20% in real terms in 2003. The company holds 27 hotels that registered 38% occupancy rate on the average last year, totalling more than 500,000 tourists. Unita Turism management expects to see occupancy up to 41% and 100,000 more tourists in its hotels in 2003. Unita Turism SA was established in December 2000 after the break-up of the Romanian-German insurer Unita SA, based in Timisoara and held by Josef Goschy, into two separate entities, Unita SA Timisoara- Societate de Asigurare (insurance company) and Unita Turism SA. ZF