Concerts save Bucharest hotel business this summer
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Hotel operators in Bucharest could increase their revenues this summer due to events scheduled at that time, including concerts by Madonna, Leonard Cohen, and Vaya con Dios, and the "George Enescu" International Festival. These shows are expected to generate a significant flow of tourists, leading to improved occupancy rates for hotels.
"Given that this is a year of caution in business, I do not foresee major changes in the second quarter. However, it is possible that the decline will be less pronounced in Bucharest in the coming six months, due to some major cultural and leisure events," according to CB Richard Ellis Eurisko's Project Manager of the Hotels department, Mircea Draghici.
The Bucharest hotel occupancy rate was some 50-55 percent in the first six months of 2009, some 17-20 percent lower year-on-year.
Source: Standard.ro
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