According to the available information, Frank has an about 20-year experience in the hotel industry. From October 2005 through this year, Stefan Frank was resident manager at Intercontinental Hotel in Frankfurt. Prior to that he had held various management positions at Intercontinental Cologne and Hamburg between 2000 and 2005, according to the information provided by Intercontinental Bucharest’s communication department and the data available on LinkedIn.
Stefan Frank replaced German Marten Schoenrock, who had been general manager since 2009. One of Schoenrock’s goals was to supervise renovation of the five-star hotel and the 21st floor of the building was remodeled during his term in office.
Intercontinental owner is Compania Hoteliera Intercontinental (Intercontinental Hotel Company), listed on the Bucharest Stock Exchange (RCHI.RO). The half-year report shows it posted 21.1 million (EUR4.6 million) revenue, down 20% on the year-ago period. It also ended the first half with RON1.6 million in losses compared with the RON1.9 million net income in the first half of 2011.
Intercontinental is the first five-star hotel ever built in Romania; it is a 22-floor building and stands almost 90 meters tall. Construction work started in 1967 and the hotel was inaugurated in 1971 after a $7 million investment. (EUR1=RON4.5757)
(English version by Loredana Fratila-Cristescu)