Although the occupancy rate is now below 50 percent, the official said that this, and the unit’s revenues, will rise this fall, but that figures will remain below those registered last year.
“For the September-November months we are expecting a rebound in business, although we will remain below the level registered in the corresponding months in 2008. Besides the contracts already set for this fall, we have reason to be optimistic: we have had discussions with several airlines and the occupancy rate on airlines is rising,” Schoenrock said.
According to a recent study by the CaptainGo online reservation company, the InterContinental, Howard Johnson, and Casa Capsa hotels in Bucharest cut tariffs by 27 percent in the first seven months of this year compared to the corresponding period in 2008. Thus, their prices fell to €160 from an average €220.
InterContinental posted net sales worth €13.8 million in 2008 and initially budgeted stagnation for this year of crisis. The five Bucharest five-star hotel market is shared by eight players: InterContinental, JW Marriott, Athenee Palace Hilton, Crowne Plaza, Radisson SAS, Carol Parc, Howard Johnson, and Casa Capsa.
