“The occupancy rate is up at JW Marriott as on the entire four and five-star hotel market in Bucharest,” Fadlallah Zayat says.
The economy allows it, since it is expected to grow by 5%, he says. The 5% economic growth is International Monetary Fund’s forecast for Romania for this fall.
Zayat says this is not his first time dealing with Romania, as he had been involved in the operations of the hotel in Bucharest in his position of regional chief financial officer Eastern Europe with the Marriott chain. The hotel in Bucharest used to be part of his portfolio as a CFO but now it is a permanent commitment, so he is focusing on what can be done to grow the business.
JW Marriott in Bucharest, which is near the Parliament Palace, has 402 rooms, 12 conference halls and six restaurants and lounges. The majority owner of the company that manages the hotel is Austria’s Strabag.
(English version by Loredana Fratila-Cristescu)