Ten new Hello Hotels units in 2008

Businessmen Radu Enache, who controls Continental Hotels, the largest hotel chain in Romania, plans to open 10 Hello Hotels in Romania, which brings the investment value in Continental Forum, IBIS and Hello Hotels to €138 million.

Enache said that the first hotel will be opened in July in Bucharest. Another three hotels will be opened in Arad, Cluj-Napoca and Iasi. Hello Hotels target the Romanian market.

Enache added that he plans to expand Continental Hotels outside Romania, including the Republic of Moldova, Ukraine and Bulgaria. “In three years, we plan to open nine Continental Forum and IBIS hotels,” he said.

Continental Hotels posted turnover worth €28.6 mln in 2007, some 15 percent over the target, and the company is forecasting turnover of €30 mln in 2008.
Its competitors on the three and four-star hotel market are Best Western, Golden Tulip and NH Hotels. According to analysts, there are some 1,000 hotels in Romania with a total of 8,000 rooms.