Daniel Ben-Yehuda, the head of the five-star Sheraton Hotel in the capital, says the first three months of this year have seen higher occupancy and business than the same period last year, due to higher demand for business events.
Daniel Ben-Yehuda, the head of the five-star Sheraton Hotel in the capital, says the first three months of this year have seen higher occupancy and business than the same period last year, due to higher demand for business events.
“Q1 was better, 5-10% up on last year, more business events were organized. As average occupancy we are somewhere around 70%, now we hope for stability in the market,” he said. The Sheraton (formerly Howard Johnson) in the capital is a brand of the international Marriott chain, has a capacity of 270 rooms and operates 11 conference rooms.
Grand Plaza Hotel, which runs the five-star Sheraton hotel in the capital, ended 2023 with a turnover of RON52.8 million, up 21% on the previous year, and a net profit of RON1 million. It has yet to reach the 2019 turnover, the best year in tourism since before the pandemic.
Statistics data show that Bucharest attracts almost half of the foreigners who stay in establishments in the country. Last year alone, the capital attracted just over a million foreigners, according to data from Statistics. The tourism balance is in deficit, however, given that the amount spent by Romanians abroad is much higher than the amount left by foreigners in the country, according to NBR data.
Bucharest has the most developed hotel infrastructure in the country, with almost 11,000 hotel rooms, most of which are double rooms, offering two beds. Half of the hotel rooms in the capital are four-star.
The food&beverage segment generates a significant part of the business when organizing events.
Daniel Ben Yehuda also runs the two hotels in the north of the capital, Ramada Parc and Ramada Plaza, which are both four-star hotels with 567 rooms and form the Parc Hotels complex.