UBM Development Czechia has completed the reconstruction of the more than 100-year-old former Cukrovarnicky Palace on Senovážné Square in the centre of Prague. The 176-room five-star Andaz Prague hotel will open in the historic building, marking the Hyatt chain’s entry into the Czech Republic. The hotel will be put into trial operation in early 2022.

Radisson Hotel Group is planning to grow its portfolio of brands operating in Romania and will roll out new formats on the local market. 

InterContinental Romania has finalized the hotel operating contract with IHG Hotel & Resorts so the name of the property in central Bucharest will be changed to Grand Hotel Bucharest. 

Venus Crown Residence Estate will develop the first DoubleTree by Hilton hotel in Brașov following the signing of a management agreement with Hilton. The hotel with 150+ guestrooms is expected to open in the summer of 2023 following an investment of €21 million. 

Occupancy rates in Prague’s hotels were 50% higher during the summer holidays this year in comparison with last July and August, propelling Prague upwards in the European cities’ chart. Room rates exceeded €64 in the summer, also an improvement over last year. Many hotels worked with an operating profit and the growing number of reservations is also a positive sign. Autumn traditionally brings a drop in tourism and thus in performance – September occupancy rates are still comparable with summer rates and prices are even higher, but there are concerns about another wave of the pandemic and the potential operating restrictions. However, the improved performance in the summer has confirmed again that Prague’s hospitality market has been consistently sought after and popular, and its performance is hindered mostly by external and temporary factors.

Wing and Accor have concluded a long-term agreement for a 12,000+ sqm area of the 42,000 sqm Liberty complex. As a result, the office building pursuing the BREEAM Excellent rating has added to its profile a dual-branded hotel under the Ibis and Tribe brands. The hotel part will be located in the landmark South wing and it is expected to be completed in 2023, which means this will be the first Tribe Hotel in Hungary.

Romanian developer One United Properties and Le Manoir, a domestic gastronomy group, have jointly acquired the boutique hotel Carpathian Lodge Măgura from Buzău, in a deal worth €2.35 million, according to ZF.ro. 

Transport services provider Regesta has moved into Hillwood Wrocław East. The new tenant took more than 17,500 sqm of warehouse and office space in the Wrocław logistics centre. Regesta was represented during the search for the new location and lease negotiations by experts of real estate advisory firm Cresa. Hillwood Wrocław East, comprising seven buildings with a total area of over 210,000 sqm, is now fully leased.

Katarzyna Tencza, Associate Director Investment & Hospitality at Walter Herz comments on the current situation on the COVID-battered Polish hotel market.

The first 5-star hotel in Cluj-Napoca will be delivered next year following an investment of €22 million made by Winners Park Invest.