Continental Hotels Plans Switch To Profit In 2011

05.04.2011 By Andrei Circhelan

Romanian hotel operator Continental Hotels on Wednesday said it expects a switch to profit this year, from a loss of EUR4.8 million in 2010, based on more aggressive marketing and promotion campaigns.

Sales are expected to rise 10% this year to EUR24.6 million, from EUR22.4 million in 2010.

"We are planning to be more aggressive in marketing and promotion, coupled with a pricing strategy based on a wider range of approaches," company owner Radu Enache told a news conference, adding the loss posted last year was mainly generated by financial costs.

The company operates eight hotels, with ratings between two and five stars, as well as five restaurants, four cafes and one bar, with a total 900 employees.

Enache added the company is not planning any investments in 2011, even though it holds three construction permits.