The total revenues of the Romanian hotels exceeded RON 5.5 billion (EUR 1.18 bln) in 2018, 10% more compared to the previous year and 18% more compared to 2016.
At the same time, their average profit margin registered an outstanding growth, from 6.3% in 2016 to over 15% in 2018, according to an analysis of Termene.ro, a platform that offers information updated in real time about the companies in Romania.
The most profitable hotels are those from the Black Sea (22% average profit margin in Constanta) and the Prahova Valley (19% average in Prahova county).
Consistent with the higher profitability and turnover, the share of tourism in the country’s Gross Domestic Product (GDP) increased from 1.5% in 2016 to about 2.6% in 2018. The arrivals registered in local accommodation facilities in 2018 amounted to 12.8 million, increasing by 6.3% compared to 2017, according to the data of the National Institute of Statistics.
“It is the eighth consecutive year of growth for the hotel business, and the trend is also visible through the interest of hospitality industry managers for real-time information about Romanian companies. The advance of the hotel market is based on the constant increase of the accommodation capacity of the hotels in the big cities, the introduction of holiday vouchers, the increase in prices and occupancy rates for hotels in the country,” said Adrian Dragomir, CEO of Termene.ro.
(Photo source: Pixabay.com)
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