25mil euro lower revenues in 2009 for five major Bucharest hotel owners
February 6, 2010 – 1:13 pm | by admin
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 is around 2.5% of Romania’s accommodation capacity, last year registered 25m-euro lower revenues in the hospitality industry than in 2008.
In 2008, the five entrepreneurs’ hotel business reached 90m euros, and in the same year Romania could provide accommodation to 294,000 tourists, according to National Statistics Institute data.
Though they operated at even 50% lower occupancy rates and cut tariffs by as much as 40%, the five owners maintain they ended the year in the black, but not all of them specified the value of profits.



