Golden Tulip hotels expecting 15% growth

“For 2008, we expect an increase in business, as the units we are operate are already on the market for several years now, and are consolidated. However, the growth cannot be spectacular. We are talking about 8-12 percent growth, 15 percent maximum,” the company’s Regional Manager for Romania, Bulgaria and Moldova, Paul Marasoiu, told Business Standard.

By the end of the year, Golden Tulip is to expand in Romania, through the affiliation of four new units, located in the cities of Cluj-Napoca, Sibiu and Bucharest, and the seaside resort at Mamaia, Marasoiu said. “If construction work progresses according to schedule, we can add two new properties early next year, at the latest.”

The chain currently operates 480 hotel rooms and aims to expand to 600 rooms by the end of the year.

Furthermore, the chain plans to add a five-star hotel to its local portfolio. Marasoiu said a five-star brand could be brought to Romania in 2-3 years, but ruled out Bucharest as the location.

Two Golden Tulip hotels in Bucharest were sold last year, but Marasoiu said other sales are not planned for 2008.

The chain’s competitors on the local market are Best Western, Ibis and NH Hoteles.