Athenee Palace Hilton: occupancy rate of 64% in Jan-May

The five-star hotel in Bucharest, Athenee Palace Hilton recorded a room occupancy rate of 64% in the five-month period into May, according to Friedrich Niemann, chief executive of the hotel.
For the entire year, the unit predicts an occupancy rate of 60%. “Both the occupancy rate and revenues in the first five months was about the same as last year”, said Friedrich Niemann (photo).

The hotel held by businessman George Copos will invest €2 million in refitting. “We expect to recoup the investment in about five years”, he said.

Brasserie, Le Bistrot, the reception area and Le Collonade inside the lodging unit will undergo renovation in different intervals between June and August 2010.

Also, Athenee Palace Hilton Bucharest completed the renovation works for Roberto’s on La Strada terrace. “After conducting market research studies, we have decided to permanently close down Brasserie restaurant, the space following to be turned into retail areas that will boast luxury brands stores”, Hilton representative said.

Le Bistrot will be reopened in August 2010 under a new concept.

Hilton expects the renovation works at restaurants will boost revenues. “For the time being, around 44% of Hilton revenues come from Food & Beverage area. Once the renovation works complete, we expect this share to grow”, the head of Hilton added.

Hilton chain comprises over 3,500 hotels across 81 countries. The company’s portfolio includes Doubletree, Conrad Hotels & Resorts, Embassy Suites Hotels, Hampton Inn, Hampton Inn & Suites, Hilton Garden Inn, Hilton Grand Vacations, Homewood Suites by Hilton, Waldorf Astoria and Waldorf Astoria Collection.

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