In 2020, Corvinus International, managing the hotel, generated RON3.2 million turnover and losses of RON934,000, against RIN14 million turnover and RON3.5 million net profit in 2019.
“The travel segment brings the biggest loss. Foreigners used to account for 70% in the total number of clients, while they now account for 10-15% at most,” Catalin Stefan, general manager of Capital Plaza, told ZF.
The hotel has a 7,500-sqm area, 95 rooms and is controlled by four local entrepreneurs through Corvinus International. The shareholders have invested EUR6.6 million to develop the hotel.
“The average occupancy rate now stands at 36% from almost 80% before the pandemic. The only plan we have relates to survival”.
Bucharest has the most developed hotel infrastructure in Romania, with almost 11,000 hotel rooms.
(English version by Catalina Apostoiu)