The Park Hotels group, controlled by businessman Gabriel Popoviciu, will open its second hotel under the Ramada umbrella by early next year, after completion of the rebranding process of the Parc hotel (Best Western Parc Hotel), which entails an 11.5 million-euro investment. "We have had several stages of investments since the takeover of the Parc hotel in 1998. So far, these investments have amounted to ten million euros, and this year's rebranding will entail another 1.5 million-euro investment," said Daniel Ben-Yehuda, manager of Ramada Plaza and of Best Western Parc. The Parc hotel has a 4-star rating, 267 rooms, a conference centre, two restaurants and a lobby bar. "We had a 68% average occupancy rate, and we expect it to rise to over 70% in 2009," mentioned Yehuda. According to him, Parc Hotel, which posted a 5 million-euro turnover in the first half of the year, generates over 60% of the group's revenues. "This year, we estimate we will reach 14 million euros for both hotels. In January-August alone, we derived an overall turnover worth 7.5 million euros," specified Yehuda.
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