Intercontinental’s occupancy rate was at 75% in 2014, from 63% a year before, on the hotel management enforcing lower the accommodation tariffs by 8%, at an average price of RON368/day.
The hotel accommodated 84,752 tourists in 2014, 84% of whom were foreigners.
“The strategy for 2014 was to increase the occupancy rate. In order to meet this objective, the tariffs were decreased,“ according to the company’s annual report.
Intercontinental posted RON26.7 million revenue from accommodation in 2014, up 7% on the year, while revenue from public food services totaled RON14.7 million similar with a year before.
In 2014, the hotel had losses of RON2.2 million, while the operating profit halved at RON1.7 million and has no longer covered the RON4 million financial loss.
Intercontinental’s largest stockholder is businessman Dan Adamescu, who owns a 32% stake through Astra Asigurari and Nova Group Investments.
(English version by Manuela Panescu)