Hotel Cișmigiu, owned by Hercesa Romania, reported a 3% increase in revenues in the first semester of this year, compared to the same period last year, thus meeting its budget targets. The performance was underpinned by an average occupancy of 76% and a 3% increase in average daily rate (ADR).
Data analysis shows a strategic focus on specific segments and markets. Business tourism remains the main driver, generating 60% of total revenues. Within this segment, the corporate events component grew by 4%, supported by the hotel’s five conference rooms and amphitheater. The leisure segment contributed 40% of revenues, positively influenced by major events such as concerts, which increased occupancy across the city.
Structure of external markets:
- Dominant market: Tourists from Israel generated 23% of the hotel’s revenues, confirming a significant dependence on this market. After a difficult start to the year, bookings from Israel have returned to normal since March.
- Domestic market: Romanian tourists ranked second with a 21% share of revenues.
- Other relevant markets: UK (8%), Italy (7%) and Germany (6%).
The positioning of Hotel Cișmigiu on the Israeli market is remarkable, its share in its own revenues (23%) being more than three times higher than the average of the Bucharest hotel market (about 7%).
Hotel Cișmigiu, part of the portfolio of Spanish real estate developer Hercesa since 2004, operates with a capacity of 60 apartments. The results for the first half of the year indicate a stable performance, based on a clear strategy of attracting business clients and effective specialization in certain key international markets.