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Mohammad Murad: First three months pointing to growth trend

"Lebanese-born Mohammad Murad, chairman of Perla Majestic group of firms, which mainly operates in the tourism sector, says that after the first quarter the businesses he runs "are faring better" compared with the same period of last year. "There was no more room for worse on the market as the bottom was hit last year. The first quarter of this year showed a slight growth trend. We're coping on the market, I don't have to speak of companies that need to be closed," Mohammad Murad said. The 46-year old businessman owns Phoenicia Grand Hotel of Bucharest and almost 1,000 rooms in several seaside hotels.

Besides Perla Majestic Murad also controls Spring Times restaurant chain, Mandy pate producer and other constructions businesses. "There's a clear upward trend of the occupancy rate in the first quarter of this year for Phoenicia Grand Hotel in Bucharest, from a 48% occupancy rate in the first three months of last year, we reached 57% in the first quarter of this year," says Murad, who projects revenues worth almost 1.5m euros for the four-star hotel of Bucharest this year, in which 57% of accommodated clients were foreigners. The businessman expects turnover to rise from last year, when he made 8.5m euros."