The Phoenicia Hotels company, which manages the Phoenicia four-star hotel of Bucharest, intends to create a hotel network, Dinel Saizu, Phoenicia general manager, told ZF.
"The next hotel might be located in Bucharest, but we want to build one outside Bucharest, too. It is sure to be located either in Poiana Brasov or in the Predeal resort," says Saizu.
According to him, investments will amount to at least three million euros, to be derived from revenues registered by Phoenicia hotel. The company''s representative adds that the new hotel will have between 100 and 150 rooms.
"It depends on the trend of the market. We will see what level of revenues we''ll hit and how we can finance the project," Saizu adds. He says the project is in the phase where the plot of land for construction is being sought.
According to the latest available data, Phoenicia Hotels has five individuals as shareholders. One of these shareholders is Dinel Saizu, while the others include Elena Iordan, who is also a shareholder of Triumf Construct.
Triumf Construct built the Bucharest-based Phoenicia hotel in the wake of investments standing at about 10 million euros. The hotel, situated in Baneasa, close to the French Village district, is included in the four-star category and has 348 rooms, ten conference halls, four restaurants, a casino, a spa and a club. Saizu forecasts the hotel in capital city will reach turnover worth above 10 million euros in 2006.
The main competition for Phoenicia is the Best Western Parc hotel, located in the same area. Moreover, two four-star hotels under Ramada brand will be built in the Baneasa area, generating tighter competition for Phoenicia. At the same time, says the company''s representative, the hotel also competes with the Ibis hotel, owned by Continental Hotels under Accor brand, which operates prices similar to Phoenicia''s, even though it is included in the three-star category.
Triumf Construct has announced investments worth 2 million euros for this spring to be made in a residential project located in Baneasa. The company operates in the real estate sector, building flats and villas in various areas of Bucharest and in the outskirts.
Investments in the business hotel segment have surged considerably over recent years, due to Romania''s forthcoming ascension to the EU.
andreea.groenendijk@zf.ro
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