Businessman Radu Enache, owner of the Continental chain, is not giving up on investment plans, although revenues have decreased by 68% this year.<\/p>\n\n\n\n
Thus, he intends to invest approximately \u20ac40 million over the next 4 years in opening two hotels in Ia\u0219i and Bra\u0219ov, and in rebranding the four hotels he owns under the Ibis name, which are to be transformed into My Continental and Forum.<\/p>\n\n\n\n
Continental Hotels and the French group Accor have mutually decided to terminate, after 20 years, the management agreement signed 20 years ago. In accordance with this agreement, starting July 1, 2020, four hotels owned by Continental Hotels no longer operate under the Ibis brand, namely Ibis Gara de Nord, Ibis Parlament, Ibis Constan\u021ba and Ibis Sibiu.<\/p>\n\n\n\n
The occupancy rate of the hotels owned by Radu Enache has dropped during this period to below 40%, compared to 75-80% last year. At the same time, hotel revenues decreased by 68%, being strongly influenced by the fact that restaurant interiors continue to remain closed.<\/p>\n\n\n\n
Against the backdrop of this crisis, the hotel chain had to lay off 538 employees.<\/p>\n\n
Radu Enache plans to invest \u20ac40 million over the next four years in new locations and rebranding.<\/p>Which hotels are being rebranded?<\/strong> The former Ibis hotels in Gara de Nord, Parlament, Constan\u021ba, and Sibiu are being rebranded as My Continental and Forum.<\/p>How has the pandemic affected the chain’s performance?<\/strong> Revenues dropped by 68% and occupancy fell below 40%, leading to the layoff of 538 employees.<\/p>","protected":false},"excerpt":{"rendered":" Businessman Radu Enache, owner of the Continental chain, is not giving up on investment plans, although revenues have decreased by 68% this year. Thus, he intends to invest approximately \u20ac40 million over the next 4 years in opening two hotels in Ia\u0219i and Bra\u0219ov, and in rebranding the four hotels he owns under the Ibis…<\/p>\n","protected":false},"author":0,"featured_media":69451,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2859],"tags":[3374,233],"thb-sponsors":[],"class_list":["post-118377","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-stirea-editiei-en","tag-continental-hotels-en","tag-radu-enache"],"article_style_override":"on","post-style":"style2","post_via":"","post-top-image":"https:\/\/rhn.ro\/wp-content\/uploads\/2020\/02\/topstory.jpg","_links":{"self":[{"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/posts\/118377","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/comments?post=118377"}],"version-history":[{"count":0,"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/posts\/118377\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/media\/69451"}],"wp:attachment":[{"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/media?parent=118377"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/categories?post=118377"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/tags?post=118377"},{"taxonomy":"thb-sponsors","embeddable":true,"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/thb-sponsors?post=118377"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}