The Moldova Hotel in Iasi will complete an about $1.5 million modernisation project by the end of 2005, $400,000 of which will be allocated this year. "We will invest 5bn ROL in air conditioning systems for the hotel and the restaurant this year and then spend another 8bn ROL on the modernisation of 33 rooms by April 2004. Furthermore, we will buy some new equipment for the hotel, restaurant and pool, worth about 800 million ROL," Liviu Statache, the general manager of the hotel said. The modernisation of the hotel, as well as of the pool and car park is scheduled for completion in two years. The hotel posted more than 29bn ROL turnover and gross profit of approximately 2bn ROL in the first eight months of the year. The management expects to see 44bn ROL in full-year revenues, 20% more than in 2002. ZF
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