Golden Tulip hotel network will add another six hotels next year, mainly located in major cities of Transylvania, bringing the number of hotels it has affiliated in Romania to ten, stated Paul Marasoiu, the chain's manager for Romania, Bulgaria and the Republic of Moldova yesterday.
"The four hotels we have franchised so far, located in Bucharest, have logged very good results, with Romania being among the most lucrative new markets for Golden Tulip. We will shortly sign the first contract for Bulgaria, too, and next spring we will also affiliate a hotel in the Republic of Moldova," added Marasoiu, on the occasion of the first anniversary of the affiliation of the Times hotel in Bucharest.
Included in the four-star category, Golden Tulip Times reached the average occupancy rate for Bucharest in the first year and will attain a level of 68-69 percent by yearend.
"We expect this year's turnover to reach 1.5 million euros and for 2007 we are targeting growth by around 30 percent. At the same time, we want to maintain the upward trend in terms of the occupancy rate and to have an average of 73-74 percent," stated the general manager of the hotel, Costina Gandac.
Beside accommodation and restaurant services, a significant part of revenues comes from event organising, which accounts for 15-20% in the total revenues.
Golden Tulip Times was opened last year, with total investments revolving around eight million euros.
According to the general manager, the investments are due to be recouped in 6-8 years, given the occupancy rate and the size of the hotel.
"The benefits of being affiliated to the Golden Tulip network include access to an international distribution channel and the possibility of operating a bigger average tariff than the domestic market would allow," explained Marasoiu.
As regards the impact of the Sommet de la Fr
