“In terms of percentage, we had an 8-12 percent drop at the beginning of the year,” said Schoenrock in a declaration for standard.ro. He believes that the decline began at the end of last year and continued through February 2009.
“We are faced with lower turnover as well as a poorer occupancy rate. The financial results in March are slightly better than expected. However, overall results, compared to the same period last year, are certainly lower,” added Schoenrock.
“I am expecting a rebound to at least the level in 2008, perhaps even somewhat higher,” he said.
Investments in 2009 involve the full renovation of 104 rooms, the elevators, the kitchen, and all installations in the back of the house. The hotel also plans to invest in a meeting space a club lounge.
