JW Marriott hotel in Bucharest moves into profit area
SCHG, the company that manages the five-star hotel JW Marriott Hotel in Romania’s capital city, one of the largest players in the hotel market, and the Grand Avenue shopping gallery at the ground floor of the hotel, posted a turnover of RON 133 million (EUR 28.6 mln) in 2018, up 4% compared to the previous year.
Moreover, the company made a net profit of RON 20 million (EUR 4.3 mln), compared to the loss of about RON 140,000 a year earlier, Ziarul Financiar reported. The company thus achieved a 15% net profit margin.
The majority shareholder of SCHG is Austrian construction group Strabag.
Bucharest is the main business pole in the country, therefore, the destination that attracts most foreigners for business purposes. The latest available data shows that Bucharest hosted last year 1.2 million foreign tourists, 40% of the foreign tourists visiting Romania.
(Photo source: Marriott.com)