Following the good occupancy rates achieved by Romanian hotels in recent years and the friendly fiscal framework…
In the coming period, investments will emerge in the hotel industry, as well as in the restaurant and entertainment sectors.
More than 40 large hotels are set to appear in the next 24 months in Romania, representing at least 400 million EUR to be invested in the industry, stated Călin Ile, president of the Romanian Hotel Industry Federation (FIHR).
2020 will be an important year for tourism investments, and the 40 large hotels announced for opening will be joined by renovations of many existing hotels or investments secured by small businesses in restaurants or guesthouses.
Ile specifies that European funds and state aid for investments will support this wave of development.
Investments will focus on renowned resorts and major cities in terms of economic activity and tourism attractiveness.
The FIHR president estimates that tourism operators will no longer accept tax evasion among their peers, as this would raise questions regarding the maintenance of existing fiscal conditions.
2020, Ile believes, will be the year when destination promotion projects are unlocked through the establishment of the first DMOs (Destination Management Organizations) and the emergence of innovative private promotion initiatives.
Labor will remain the main problem for tourism businesses, with an increase this year in the number of employees brought from non-EU countries (especially Asia) to work in HORECA.
In parallel, investments in education will increase, especially in the dual education system, and companies will allocate larger human resources budgets – recruitment, employee training, and retention becoming more expensive.
Additionally, Ile estimates that tourism operators will invest more in digitalization, initially in marketing and loyalty programs. The first AI (artificial intelligence) investments will also appear in Romanian tourism, starting with better processing of available data and decision-making based on this information, such as online check-in or fast check-out reservations.
Source: Profit
Frequently Asked Questions
How many new hotels are expected to open in Romania?
More than 40 large hotels are scheduled to open across the country within the next 24 months.
What is the total estimated investment for these projects?
The total investment in the Romanian hotel industry is estimated to reach at least 400 million EUR during this period.
How is the industry addressing the labor shortage?
Tourism businesses are increasingly hiring staff from non-EU countries, particularly Asia, and investing in dual education systems to train local talent.