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Romania's hotel sector recovers in 2023, thanks to leisure tourism


Romania's hotel sector has continued to recover, with sustained growth in leisure tourism, shows a Colliers analysis published Tuesday.

The number of Romanian tourists staying in Romania's hotel establishments reached nearly 7 million in 2023, very close to record levels and above the average of the pre-pandemic years, Colliers said.

However, in the summer of 2023, air passenger traffic levels surpassed those of 2019, setting new records both in Bucharest and other major cities in the country.

Colliers consultants point out, however, that the recovery of international tourism in Romania has not been as rapid as that of domestic tourism, with the number of foreign tourists arriving in the country remaining about 25% below the pre-pandemic level.

At the same time, there has been a significant increase in the number and variety of hotel brands seeking to enter the local market, from luxury to more affordable ones.

According to the source, in Bucharest, four and five-star hotels remained the most active segment in 2023. Thus, the average daily revenue per available room (ADR) increased by 15% -20% throughout the year, in addition to the 57% increase recorded in 2022, up to 126 euro/room/night in central areas and 82 euro/room/night in the north of Bucharest. Occupancy rates in competitive hotels in the capital have also increased by around 10% in the summer months, but in annual terms remain slightly below pre-pandemic levels.

"Even without taking into account economic uncertainties, local hotels are facing increasing obstacles, from labour shortages (more than 10% of employees in Bucharest's central hotels are from abroad, especially South Asia) to significant changes in operating costs, such as those in 2022 amid rising energy prices. But, in general, the long-term future looks promising, which explains the surge in new projects," according to the research.