DAAS Romania, a major supplier of equipment for hotels, restaurants, catering firms, as well as food stores, last year experienced "a rude awakening", translating into a 30% turnover decline from the previous year, after two years of two-digit growth. The reason? Most clients, businesspeople who had opened a restaurant or coffee shop in 2008, gave up their business as soon as they saw consumption slide. "The market of hotels and restaurants is a fragmented market. There are international players, very strong Romanian players and a broad mass of players who made money in other industries, including real estate, and who decided to open a restaurant they'd possibly offer their family as a gift. The latter collapsed the first because they did not have tight ties with this market," Daniel Mocanu, DAAS Romania general manager and shareholder, told ZF. DAAS Romania, with a 15% market share, according to the information it provided, in 2009 posted 14m-euro turnover, down 30% year-on-year.
DAAS Romania, a major supplier of equipment for hotels, restaurants, catering firms, as well as food stores, last year experienced "a rude awakening", translating into a 30% turnover decline from the previous year, after two years of two-digit growth. The reason? Most clients, businesspeople who had opened a restaurant or coffee shop in 2008, gave up their business as soon as they saw consumption slide. "The market of hotels and restaurants is a fragmented market. There are international players, very strong Romanian players and a broad mass of players who made money in other industries, including real estate, and who decided to open a restaurant they'd possibly offer their family as a gift. The latter collapsed the first because they did not have tight ties with this market," Daniel Mocanu, DAAS Romania general manager and shareholder, told ZF. DAAS Romania, with a 15% market sha
