Romania's Continental Hotels posts EUR 4.8 mln loss, estimates 10% higher income

Hotel chain Continental Hotels has completed 2010 with losses of EUR 4.8 million and a turnover of EUR 22.4 million, according to Radu Enache, the hotel chain owner (in picture). “2010 was a difficult year, although we had a 12 percent higher income over the previous year”, he added. For this year Continental Hotels estimates a turnover increase of 10 percent, a development based on aggressive marketing policy and on the application of flexible tariffs, said Radu Enache. He also mentioned that in 2010 expenses were reduced by 30 percent. The number of staff also decreased from 2007 by nearly 30 percent. Currently, the hotel chain has 900 employees. Continental Hotels was founded in 1991 and currently operates eight hotels of 2, 3, 4 and 5 stars with a total capacity of 1,860 rooms, 13 restaurants, 19 cafes and bars, 54 conference rooms and four spa areas. Irina Popescu, irina.popescu@romania-insider.com