“This summer we expect higher revenue than in the past season though we had big losses because of the weather,” said Anca Nedea, general manager of the four-star hotel.
During the summer season of 2013, the hotel had receipts of EUR1.6 million, namely around 60% of the full-year revenue. Nedea mentioned that had the weather been favorable, the hotel would have topped the July budget by 15%.
Iaki has 244 beds in 122 rooms.
Mamaia is Romania’s most popular seaside resort, and there are hardly any vacant rooms in its hotels next week, with booking.com indicating an occupancy rate of accommodation units of 72%.
In 2013, Hagi Sport company, which operates the 4-star hotel, posted revenue of 12.8 million lei (EUR2.9 million), profit of RON1.1 million (EUR250,000), up 72% on the year, according to Finance Ministry data. Thus, Iaki’s profit margin stood at 8.6%, according to ZF calculations.
Five-star Vega hotel of Mamaia, controlled by businessman Gabriel Comanescu, also has all its 141 rooms filled at weekends in July and August, with the average occupancy rate estimated for these months standing at 80%, similar with that of the past year.
This year’s budget forecasts a 2% to 3% revenue increase against the previous year, when the hotel generated RON19.4 million (EUR4.3 million), according to Finance Ministry data.
The Romanian seaside holds just a few 5-star hotel units, which operate at almost full capacity during the summer season.
(English version by Catalina Apostoiu)