The Grand, JW Marriott hotel owner in Bucharest makes EUR 12 mln six-month turnover

The Grand, the company which owns the five-star hotel JW Marriott Hotel in Bucharest and the Grand Offices grew its turnover by 7.4 percent in the first half of this year, to some EUR 12 million. For the full year, the company expects a turnover of around EUR 24 million.

The Grand Offices reached an occupancy rate of 80 percent, while The Grand Avenue has an occupancy rate of almost 100 percent. For gross operating profit, the management expects even a double-digit growth. “Despite the crisis, operating results are encouraging,” said Gregor Aufhauser, General Manager of SCH The Grand (in picture). The Grand runs 85,000 sqm distributed on 13 levels. It includes the Grand Offices, Grand Avenue retail spaces, the 402-roomed JW Marriott Grand Hotel, the World Class Health Academy. “We optimized the shops of our gallery by attracting more top brands from around the world, as Alfred Dunhill, and also new and trendy brands as Ermanno Scervino. We have also finished the negotiations with other top brands,” said Aufhauser. Since last year the company has started a series of investments aimed at diversifying and improving customer service. An investment program of a few million euros is ongoing. This began with the renovation of Vienna Cafe Grand Ballroom and continues with the renovation of conference rooms and Constanta Ballroom, according to the company. Corina Saceanu, corina@romania-insider.com (the six-month turnover was transformed based on a RON 4.21 per EUR rate, while the 12-month turnover, on a RON 4.3 per EUR average rate)