March to June data show 20% contraction in revenues of the hotel chain, from 3.2 billion dollars in 2008, to 2.63 billion dollars this year.
Excluding overhead expenses, earnings stood at 23 cents/share.
The company expects to open over 30,000 rooms this year, as most hotels expected to open are already under construction or undergoing conversion from other brands.
The five-star Marriott hotel was opened in 2000 and has a 400-room accommodation capacity. “I believe the visitors are more concerned on the way they spend their money, on “value for money”, and this is why, one of the most important business decisions is not to downgrade the quality of a product, even if the market conditions constrain you”, Igael Porecki, the new general manager of Marriott Bucharest.
The Food&Beverage segment generated approximately 55% of the hotel’s total revenues in first quarter, compared to 45% generated by the room segment.
In the first six months of the year, 97% of the five -star hotel’s customers were foreigners. The majority of the clients came from United Kingdom, United States and Germany.
As for the strategy for third quarter, when most of the hotels are largely relying on corporate clients, Marriott Bucharest focuses on promotions. “Unfortunately, July and August are “low-season months” to Bucharest. Prices are lower in this period, and certainly we run promotions designed to various customer segments. Apart from the group-wide promotion, book two nights, enjoy the third free of charge, we run other promotions at local level, a weekend promotion for rooms, which includes World Class treatment for two persons, and the second one consists in conference packages adapted to the number of attendees”, Porecki added.
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