Business Forum • 17 July, 2024 at 11:11 AM
Tourists from Israel generated, in the first half of this year, 23% of the revenues recorded by Hotel Cișmigiu, part of the Hercesa Romania portfolio since 2004. In second place in terms of accommodation in Hotel Cișmigiu were tourists from Romania, with 21% of the total, followed by those from Great Britain (8%), Italy (7%), Germany (6%) and the Netherlands (4%). The Average Daily Rate (ADR) indicator increased by 3% compared to the first six months of 2023, and the double occupancy rate was 1.4.
"Israeli and Romanian tourists generated 44% of our revenues in the first six months of this year," said Mirela Cojocaru, general manager of the Cismigiu Hotel. „We have reached our targeted budget, which was 3% increase year-on-year and we have recorded a significant recovery in bookings from tourists from Israel, which represents 23% of our total accommodations in the first half of the year. Although the first two months were difficult due to the decrease in the number of bookings from Israel, since March the situation has stabilized, and reservations have returned to last year's level," added Mirela Cojocaru.
Business tourism continues to be the main revenue generator for Hotel Cilmigiu, with a percentage of 60% of the total. The corporate events segment, served by Hotel Cișmigiu through five conference rooms with capacities between 30 and 70 people and an amphitheater, increased by 4% compared to the first six months of 2023.
"The leisure segment contributed 40% to the hotel's revenues in the first six months of 2024. We have noticed a notable increase in the number of Italian tourists, who have chosen Romania due to the lower costs compared to other European destinations. Large events, such as the Coldplay concerts, have significantly contributed to the occupancy of our hotel, proving that Bucharest is becoming an attractive destination for festivals and concerts," explained Mirela Cojocaru.
At the level of the hotel market in Bucharest, the Top 5 countries from which tourists come is led by Romania (40%), followed by Israel (6.95%), Italy (6.65%), Great Britain (6.17%) and Spain (4.86%). Tourists who visit Bucharest choose a stay between 3 and 7 nights in a percentage of 38%, those who stay 2 nights represent 20% of the total, and those who stay only one night – 34%.
Hotel Cișmigiu comprises 60 apartments and is also a cultural hub, through the Humanitas Bookstore, the Cervantes Institute and by organizing, in the various spaces of the building, exhibitions including works of Romanian art and a gastronomical destination, through the Gambrinus Brewery on the ground floor and Bistro Cișmigiu, operated by Stadio on the sixth floor.
Historical landmarks
1912 - The engineer Nicolae Pissiota begins the construction of the Palace Hotel, being the author of the structural frame project, while his cousin, arch. Arghir Culina, was in charge of the hotel's design.
- 1913 - The Palace Hotel, with 200 rooms, is inaugurated.
- 1941 - The famous Gambrinus Brewery opens on the ground floor of the Palace Hotel.
- 1948 - The hotel is nationalised and renamed "6 Martie".
- 1965 - The building is renamed Hotel Cișmigiu.
- 1985 - The hotel is closed due to deterioration.
- 1990 - The building becomes the student hostel of the Academy of Theatre and Film.
- 1995 - Hotel Cișmigiu is closed again due to significant deterioration.
- 2004 - Hercesa acquires Hotel Cișmigiu.
- 2012 - Hotel Cișmigiu is reopened and restored to the tourist and cultural circuit, following an investment of €15 million.
Hercesa has been present on the Romanian market since 2004 and has since delivered 1,000 apartments in the Vivenda Residencias project in the Titan area of Bucharest. Currently, Hercesa Romania has under construction and in preparation 1,000 apartments in the projects Stellaris Residencias and Vivenda Residencias.
Stellaris Residencias is the second large-scale residential project developed by Hercesa Romania in Bucharest after Vivenda Residencias and will comprise a total of 4,500 apartments. The first phase of Stellaris Residencias involves an investment of €59 million, will be built in four stages and will comprise 482 apartments.