Romania’s hotel industry has grown by nearly 40% over the last 5 years, reaching a turnover of over 5.5 billion RON in 2017, and estimates for 2018 indicate that the hotel sector could reach 5.8 billion RON, according to an analysis by the consultancy firm Frames.
Regarding restaurants, the industry has a real chance in 2018, amid rising consumption, to exceed a turnover level of 10 billion RON, more than double the result recorded 5 years ago, which was 4.5 billion RON.
Frames statistics show that over 16,000 companies operate in the HORECA industry, of which nearly 10,000 are in the restaurant sector. Last year, companies reported over 82,000 employees in the restaurant sector and 45,000 in hotels and guesthouses.
The capital remains the location providing the widest range of HORECA services and, obviously, records the best financial performance. According to the consultancy firm’s data, Bucharest represents over 30% of the hotel market (373 companies) and more than 40% of the restaurant business (2,072 companies), and the opening of new businesses signals a significant boost in the coming years. The capital is followed by the counties of Constanta – 1,403 HORECA firms, Cluj – 768 firms, Brasov – 608 companies, and Timis – 696, with shares between 4 and 12%.
According to Frames analysts, the launch of holiday vouchers also has unexpected effects. Beyond the influx of tourists and the increase in accommodation rates, the restaurant sector is fully feeling a loophole in this system – the fact that vouchers are dedicated to accommodation services and cannot be used independently, like meal tickets.
Source: Profit
Frequently Asked Questions
What is the projected turnover for the Romanian hotel sector in 2018?
The hotel sector is estimated to reach a turnover of 5.8 billion RON in 2018, following a 40% growth over the previous five years.
Which region in Romania has the strongest HORECA performance?
Bucharest remains the leader, accounting for over 30% of the hotel market and more than 40% of the restaurant business.
How do holiday vouchers impact the restaurant industry?
While they boost tourism, holiday vouchers are tied to accommodation services and cannot be used independently, unlike meal tickets, which limits their direct benefit to restaurants.