Ramada Majestic, lower business in 2009

Although they have not yet lowered prices, Ramada Majestic officials say that hotel managers are expected to alter price policies in 2009, dropping prices below €100, to be able to compete with tariffs applied in other European capitals.

“In the final quarter of 2008, revenues were 2-3 percent lower, but in the first months of 2009, the decline was 20-25 percent year-on-year. Personally, I do not think that the hotel market and the hospitality industry will be dramatically affected, but they will slide,” the hotel’s General Manager, Mihai Acatrinei, told Business Standard.

Acatrinei added that the hotel’s management entered a partnership with the Deloitte financial advisory company, to access European funds, but the process is rather difficult. “Investments will be made for raising the quality of services, by purchasing equipment and furniture and raising the professional level of employees. But it all depends on what will happen with the economy, because, with these funds, you must contribute 50 percent of the money,” Acatrinei said.