Hotel Cișmigiu, part of the Hercesa Romania portfolio since 2004, recorded increases in all relevant indicators in 2023. Revenues increased by 15 percent compared to last year, occupancy was 78 percent compared to 70 percent in 2022, Average Daily Rate (ADR) increased by 15 percent compared to 2019, and double occupancy was 1.4.
“For Hotel Cismigiu, 2023 was the best year ever. Not only did we recover, but we also surpassed the level of 2019, a benchmark year before the pandemic, in terms of occupancy and revenue”, said Mirela Cojocaru, general manager of Hotel Cișmigiu. “This year the percentage of tourists from the leisure travel segment increased to 40 percent of the total, with the business segment remaining the majority. At the end of November, tourists from Israel, an important part of the leisure segment, started to return after their numbers had dropped in October, with the outbreak of war”, added Mirela Cojocaru.
“The year 2023 was not without its challenges, even though we recorded, both at market level and in the case of the Hotel Cișmigiu, significant growth. The sudden post-pandemic recovery generated a labour shortage, which has considerably diminished in this segment in the period 2020-2021, a difficulty we are still facing today, along with high energy prices and inflation. We expect these challenges to continue in 2024 and, in addition, we are already seeing signs of shrinking travel budgets in the corporate segment,” said Mirela Cojocaru.
