EnglishAthenee Palace Hilton Bucharest posted a 23% increase in operating profit to 14.3 million USD in 2007, up from 11.8 million USD in 2006, according to general manager Friedrich Niemann. "2007 was the best year since the inauguration in 1997, in terms of intake and profit. The demand rose last year and we became market leader," Niemann said. He added that, hotel services, catering and banqueting increased considerably.
The hotel also reported a 20% increase in revenue to 30 million USD, an increase in the occupancy rate from 72% to 76% and the revenue per available room from 136 USD to 164 USD. "This year, we are aiming for a 5-10% increase in both revenues and profit. In order to do so, we could use a better image of Bucharest, which is well suited for weekend excursions," he added. At the moment, the occupancy rate exceeds 75% in weekdays and decreases in weekends, when tourists account for the majority of the guests.
The forthcoming opening of the Radisson SAS in Bucharest this spring will not have too much of an impact on Hilton"s business, Niemann believes, as the demand for premium hotels is quite high. Moreover, he said the Hilton may increase prices this year, as the existing prices were lower than in other European capitals.
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