Bucharest, the capital city of Romania has an average occupancy rate in five star hotels of 75% - representing one of the best in Central and Eastern Europe after Moscow and Prague, a study set up by CPP Management Consultants Ltd consultancy firm shows.
According to the analysis, the cheapest five star hotel in Bucharest is Crowne Plaza with a tariff of 120 euro/day and the most expensive, Carol Parc with 500 euro/day.
The five star hotel market in Bucharest is made up of JW Marriot, Athenee Palace Hilton, InterContinental, Crowne Plaza, Howard Johnson and starting with early 2008, Radisson SAS. The two boutique hotels in Bucharest are Casa Capsa and Carol Parc Hotel.
CPP Management Consultants Ltd analysts argue that the main target of the hotels is corporate. Bucharest tariffs are cheaper than Moscow’s rates which average to 300 euro/day.
The study shows that even though Athenee Palace Hilton and JW Marriot are considered most representative five star hotels in town, they are the least renovated or innovative.
Radisson SAS is scheduled to open on March 2008 and CPP Management Consultants Ltd specialists say it represented quite a challenge from the Israeli group Plaza Centers because of the socialist architecture and structure.
About Howard Johnson Grand Plaza the study reveals it is one of the most profitable properties in Bucharest
InterContinental is not only an architectural reference for Bucharest but it is also the first five star hotel in the city.