Bucharest Radisson Manager Sees Hotel Market Rebound

05.13.2011 ZF English

Ali Yilmaz Yildirimlar, general manager of Radisson Blu hotel complex of Calea Victoriei in Bucharest, which operates 718 rooms, says operating income had a double-digit growth in the first four months of this year, as almost 70% of rooms were occupied on average.

Radisson Blu head did not disclose the value of operating income, though. Last year, however, the company operating the hotel complex reported EUR3 million, down from the EUR8.3 million in 2009, according to Bourse data. The company's turnover reached EUR25 million, from EUR23 million in the previous year.

"The number of people traveling and arriving in Bucharest is higher than last year and this can be seen not only in our business, but also in the airlines' business. Should the trend maintain, we can be confident," stated Ali Yilmaz Yildirimlar.

In Romania, the two complexes of 718 rooms are registered as belonging to Bucuresti Turism (BUTU.RO), in which BEA Hotels Eastern Europe holds 76.83% and SIF Transilvania (SIF3.RO) 11.29%.

"After two years and a half we can speak about a hotel market rebound. As far as the corporate business is concerned, companies have started investing more in employees and are organizing training programs, while in terms of private events demand for weddings and christening parties is still high."