Five of the largest hotel owners in Romania, George Copos,Mohammad Murad, Josef Goschy, Ionut Negoita and Octavian Lazar,holding together more than 8,000 rooms in Romanian hotels, that isaround 2.5% of Romania's accommodation capacity, last yearregistered 25m-euro lower revenues in the hospitality industry thanin 2008.
In 2008, the five entrepreneurs' hotel business reached 90meuros, and in the same year Romania could provide accommodation to294,000 tourists, according to National Statistics Institutedata.
Though they operated at even 50% lower occupancy rates and cuttariffs by as much as 40%, the five owners maintain they ended theyear in the black, but not all of them specified the value ofprofits.
"I ended last year with almost 3m-euro lower turnover, thereforewith a 20% drop, to around 14m euros for all the hotels I own,"stated Ionut Negoita, owner of the biggest hotel in terms of thenumber of rooms, Rin Grand Hotel.
He also says that not including the amortisation of investmentsin hotels, he made profit last year. The biggest revenues, 9.1meuros, were generated by Rin Grand Hotel.
"We managed to reach these revenues because of the eventsorganised in the hotel, which bring more than half of totalrevenues," said Negoita, who sees hotel turnover rise by 8% in2010.
George Copos, who owns 7 hotels through Ana Hotels, also madelower revenues from hotel operations. Thus, from 41m euros in 2008,Copos reached 26m euros.
Josef Goschy, one of the biggest hotel owners, with 3,500 roomsin 25 accommodation facilities through Unita Turism group, alsofelt the crisis fallout. Goschy reported 20% lower turnover, namely3m-euro lower revenues from 2008.
Lebanese-born businessman Mohammad Murad, owner of PerlaMajestic group of firms, also ended 2009 with a profit. Muradmaintains he had a 12% profit margin.
Lazar family, controlling a majority stake in Caro Hotels hotelcomplex, gained 1.5m-euro less last year. The complex generated2.5m-euro turnover last year, down 37.5% from 2008, according toOctavian Lazar.
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