The Hospitality Industry Is On the Rise

Bucharest has a great potential to develop strongly the hospitality industry, with erecting new hotel venues, though it is not promoted properly as a tourist destination, found a market survey conducted by the Colliers real-estate agency.

New actors will come to play in the hospitality industry

International hotel chains decided to invest in Bucharest in the following years. The experts at Colliers point to some three to four thousand new hotel rooms to be available in the several hotels of three and four stars to be built in the future. Already six of them are under construction by such well known foreign companies as Continental Accor and Golden Tulip, or domestic ones, like Triumf Construct.
This is the most dynamic sector of the market, with 1,300 rooms already being built in the past four years, on an upward trend likely to be sustained in the next years too. According to the Colliers study, by 2007 other 2,000 rooms in three stars hotels will be built; and another 1,000 rooms by 2009.

Currently, the hospitality industry in Bucharest is operating some 6,000 rooms, which is less than the regular number of rooms available in other European capitals. Most are in three stars hotels: 3,000 of them, with some 2,800 rooms in four and five star hotels.
The rest of them are in one star hotels, which are in fact those at communist time standards which had not been renovated yet.
The international hotel chains invested so far in high-end hotel facilities, as did Marriott, Hilton Hotels, Accor, Intercontinental and Howard Johnson.
Three out of ten tourists traveling to Romania come to Bucharest, found the study. Prices here are in line with those in other European capitals, to be exact they range between 40 to 200 euros per room, no matter the ranking of the hotel accommodation. In one and two star hotels the price per night per a double room goes from 40 to 70 euros, while in the three star hotels goes from 50 to 120 euros. The high-end prices range from 200 to 300 euros per night in a five star hotel, and from 100 to 250 euros per night in a four star hotel.