The complex includes five-star JW Marriott Hotel, a shopping gallery, a parking lot and a health club.
“2014 was better than 2013, with JW Marriott Hotel seeing 5.7% higher occupancy and 7% higher revenue,” Gregor Aufhauser told ZF.
JW Marriott operates 402 rooms.
Rival five-star hotel Athenee Palace Hilton held by the Copos family, too, posted 3% higher revenue last year. The first 2014 data show the upscale hotel market is bouncing back after a period of stagnation.
The 2015 prospects are good, Aufhauser says, so SCH Grand expects growth this year, too.
The company plans to refurbish the rooms, after doing the same with the meeting rooms, the reception, one of the bars and one of the restaurants, a project it started in 2010.
Room refurbishment should begin in the second half, Gregor Aufhauser said, adding the company would also bring three new brands to The Grand Avenue shopping gallery to improve its offer for upper middle class customers in the first half.
The stores on the ground floor of the hotel include Louis Vuitton, Escada and Dolce&Gabbana, with Scavia (jewelry) and Vionnet (apparel) added last year.
(English version by Loredana Fratila-Cristescu)