“It is still hard to tell, because this is August and the holiday period, and much of the hotel’s turnover comes from the business segment. Most corporate clients will return in September,” he explained. According to Soper, the market is likely to decline, because travel costs have risen due to higher fuel prices. “In my opinion, people will think twice about traveling,” he added.
However, Romania is an attractive destination for the business community, which could make up for the market decline. “The level of foreign investments is still high. There are still many opportunities, and Romania’s economy continues to have the highest growth rate in the European Union,” Soper said.
Among the main players on the local five-star hotel market are JW Marriott, Athenee Palace Hilton, Howard Johnson Grand Plaza, Crowne Plaza, InterContinental, Casa Capsa, Carol Parc Hotel and Radisson SAS.
