“Revenue went up in 2014 as well, with official figures due in late January. Considering some hotels part of the chain overshot projected figures, I am more upbeat this year and expect a 5% increase,” the businessman told ZF.
In January 2014, Radu Enache said he had no basis for projections about the trend of his business.
“Grand Hotel Continental (the 5-star unit of Bucharest i.e.), as well as the units of Arad and Sibiu and Ibis hotels fared well,” said the businessman.
About the investment budget for 2015, Radu Enache said he will most likely not start the construction from scratch of some hotels, with the projects being on hold since the crisis onset.
In 2013, Continental Hotels reported revenue worth RON89 million (EUR20 million) and losses of RON18.2 million (EUR4.1 million) with 782 employees, according to Trade Registry figures, compared with revenue of RON87 million (EUR19.8 million) and losses of RON15.7 million (EUR3.6 million) in the previous year.
(English version by Catalina Apostoiu)