Continental Hotels maintains its position in the Romanian hospitality industry, reporting a turnover of over RON 170 million for 2023, a significant increase of 18% compared to 2019. For 2024, the hotel chain expects a further 4-6% growth, thus strengthening customer confidence and market stability. “For 2024, we estimate revenue growth of between 4-6%, although we anticipate this surplus to be largely absorbed by taxes, wage costs and merchandise expenses. Meanwhile, the hotel occupancy rate is 3 percentage points below the 2019 baseline, up 2% compared to 2023, reflecting the continued confidence of guests in our services,” says Radu Enache, President – CEO Continental Hotels.”, says Radu Enache, President – CEO Continental Hotels. For the period 2024-2026, Continental Hotels anticipates investments of up to EUR 20 million, designed to support both the improvement of the infrastructure and services offered and the implementation of a sustainability strategy in line with European ESG guidelines. In the first nine months of 2024, Continental Hotels has observed significant changes in customer behavior. Although demand from individual guests decreased slightly compared to 2023, bookings for organized groups increased by 16%, a notable development, especially in the recreational group segment, which now accounts for 36% of all groups, compared to 30% in 2023. At the same time, bookings made directly on the Continental Hotels website saw an 11% increase year-on-year, confirming both the digitalization trend and the customer preference for direct interaction with the brand.
Continental Hotels expects growing turnover for 2024
