Hotel Cișmigiu recorded a 15% revenue increase in the first 11 months of this year compared to the same period last year, with an occupancy rate of 78% compared to 70% in 2022.
Given that the average daily intake increased by 15% compared to the last pre-pandemic year (the 2019 reference year) and the double occupancy rate was 1.4, the hotel accumulated revenues of 1.9 million EUR.
The percentage of tourists in the leisure travel segment rose to 40% of the total, while the business segment remained the majority.
The corporate events segment, served by Hotel Cișmigiu through five conference rooms with capacities between 30 and 70 people and an amphitheater, has not fully recovered compared to 2019, as many of these events continue to take place online.
2023 was a difficult year, both at the market level and for Hotel Cișmigiu, in the corporate events segment. The sudden post-pandemic recovery generated a labor crisis, which had significantly diminished in this segment during the 2020-2021 period—a difficulty that is still being faced today, alongside increased energy prices and high inflation levels.
Hotel Cișmigiu comprises 60 apartments and is also a cultural hub, housing the Humanitas Bookstore, the Cervantes Institute, and hosting exhibitions of Romanian art in various spaces within the building. Gastronomically, it features Berăria Gambrinus on the ground floor and Bistro Cișmigiu, operated by Stadio on the sixth floor.
Hotel Cișmigiu celebrated 110 years since its inauguration this year. In 1912, engineer Nicolae Pissiota began construction on the Palace Hotel, acting as the structural designer, while his cousin, architect Arghir Culina, handled the conceptual and organizational aspects of the hotel. The hotel was inaugurated a year later, in 1913, featuring 200 rooms.
In 1995, the hotel was closed for the last time due to significant degradation. In 2004, Hercesa acquired the property and invested in its renovation. In 2012, Hotel Cișmigiu was reopened and returned to the tourist and cultural circuit following a 15 million EUR investment.
Frequently Asked Questions
What was Hotel Cișmigiu’s financial performance in 2023?
The hotel recorded a 15% revenue increase in the first 11 months of the year, reaching a total of 1.9 million EUR, with occupancy rising to 78%.
How has the guest profile changed recently?
While the business segment remains the majority, the leisure segment has grown to account for 40% of the total occupancy.
Who owns Hotel Cișmigiu and when was it renovated?
The property was acquired by Hercesa in 2004 and reopened in 2012 following a comprehensive 15 million EUR renovation project.