Marriott is closing food and beverage outlets, reducing staff and closing floors or even entire hotels due to the extremely low levels of occupancy across the world. The company has also temporarily deferred most brand standards to help owners and franchisees, including delaying renovations due in 2020 by one year, deferring required furniture, fixtures and equipment funding and suspending brand standard audits.
CPI Property Group offered the Czech government the entire capacity of the 14 hotels operated by CPI Hotels in the event that the government requires extra space for patients. The offer includes approximately 5,000 beds in 2,490 rooms and conference space that can normally accommodate almost 10,000 guests in total.
The year 2019 was a record one for the Prague hospitality sector in terms of transactions: the amount of investments in hospitality properties exceeded €500 million. This is the highest figure in history and twice the average for the last five years. This is also the first time that the Czech Republic has made it to the Top 10 in the European hospitality investment chart – to number nine. In 2020, the volume of hospitality transactions could become twice as high – €1 billion, according to Cushman & Wakefield.
UAE business conglomerate Al Habtoor Group is set to open a regional office in the Hungarian capital of Budapest, to service its existing European operations and scout for new investment opportunities. The group, with its wide-ranging interests in the hospitality, real estate, automotive, education and vehicle leasing sectors, plans to expand its enterprise reach in new European markets.
Accor has committed to join the Global Tourism Plastics Initiative led by the United Nations Environment Programme (UNEP) and the World Tourism Organization, in collaboration with the Ellen MacArthur Foundation to remove all single-use plastic items in guest experience from its hotels by the end of 2022.
Christie & Co recently launched their new report focusing on the hostel markets in Vienna, Prague and Budapest. The report shows an overview of the business model itself, key characteristics, the evolution of the hostel concept and gives a deeper insight of the mentioned markets: Vienna, Prague and Budapest, in terms of demand, supply and especially branded supply.
Real estate developer Mulberry Development, controlled by businessman Ovidiu Șandor, has obtained the building permit for the Radisson Blu hotel in Timișoara. The 160-room hotel will be completed in 2021. The hotel will be operated by the Radisson Hotel Group.
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