The three hotels together (the four-star Europa and Iaki and the five-star Rex) can accommodate over 400 guests.

Three of the best-known hotels on the Romanian seaside, Iaki (owned by former footballer Gheorghe Hagi), Rex (controlled by Adamescu family) and Europa (George Copos), are set to generate turnovers worth above 10m euros this year, with around 40% of this value to be derived during July-August summer months.

Given that it can accommodate 221 guests, Europa Hotel in Eforie Nord, owned by businessman George Copos, generates around 40% of the 3 hotels' turnover.

Europa Hotel has budgeted turnover worth 4.1m euros for this year, up 17% from last year. The hotel last year posted turnover worth 3.5m euros and a 46.5% occupancy rate, with the average occupancy rate expected to rise by around 4% this year. The hotel is part of the Ana Hotels group, together with Astoria, in the same resort, Crowne Plaza in Bucharest and another 3 hotels in Poiana Brasov. Of the revenues Copos gets at Europa hotel, around 50% come from accommodation, with the rest being derived from events and other activities.

Iaki Hotel owned by Gheorghe Hagi is poised to reach turnover worth 3.4m euros this year, while Rex is expected to exceed 3m euros in turnover, according to with ZF estimates.

According to Finance Ministry data, Mamaia SA company that owns Rex Hotel posted 2.4m-euro turnover in 2006. The Adamescu family bought Rex Hotel in 2006 from businessman Viorel Paunescu and other shareholders for 10m euros.

"In July-August, contributing 40% to total revenues, we expect the occupancy rate to hit 90%, from 78% last year," said Iolanda Nanu, manager of Rex Hotel, without specifying estimated turnover for 2008.

Until recently, Rex has been the biggest five-star seaside hotel, as it can accommodate around 100 guests. The 5-star segment includes, sta