Accor, the majority shareholder of Orbis, exercised its buy-out option right over the Sofitel Budapest Chain Bridge hotel, located in Budapest, with a buy-out date of 31 May 2017. The value of the transaction has been estimated at €44 million.
Deutsche Hospitality’s first hotel CEE hotel is set to open in by 2019. IntercityHotel Budapest will be located in a newly constructed building in forint of the City’s Eastern Railway Station (Keleti pályaudvar). It will have 300 rooms, a restaurant, a bar, a conference area and an underground car park with 200 spaces.
Hilton has reached a franchise agreement with Accent Hotel Management to open Hilton Garden Inn Budapest City Centre. The 214-guestroom hotel is set to become Hilton’s third hotel in Budapest by 2018.
W Hotels Worldwide, part of Marriott International, announced an agreement with QPR Properties Kft, part of Constellation Hotels Holding Ltd., to debut the W Hotels brand in Hungary with the opening of W Budapest. Located on Andrássy Road, the hotel will be situated directly across from the State Opera House, businesswire.com reports.
Hotel capacities in Hungary will grow by approximately 2,000 rooms over the next two years, which corresponds to 4,000 new hotel beds, so Hungary and in particular Budapest will be prepared to meet the tourism challenges of coming years, according to KPMG's latest analysis.
On behalf of the owner, Christie & Co markets for sale a hotel development site in the Slovenian ski region on mount Krvavec, 25 km north of Slovenia’s capital Ljubljana.
A new luxury destination is taking shape in the Polish retail market with the opening of Europejski Hotel. The capital is to see the completion of the renovation and redevelopment of one of Warsaw’s most recognized buildings with 160 years of history. The 2,700 sqm of ground floor retail area will feature boutique units. Cushman & Wakefield is responsible for commercialisation of the scheme.
Hotel investment activity in CEE – from the Adriatic Coast to the Baltic Sea – has been booming in the second half of 2016, with numerous hotel properties being on the market and several transactions taking place, as hotel property specialist Christie & Co reports.
Cushman & Wakefield’s EMEA structured finance team has secured a €50+ million refinancing for Budapest’s Four Seasons Hotel Gresham Palace on behalf of SAS Holding Kft, the owner of the hotel building.
The Real Estate Workout department of Erste Group Bank AG, has concluded the sale of the luxury resort Radisson Blu Resort & Spa Sun Gardens to a Chinese investor under the terms of a share deal. The property – one of the largest hotel complexes in Croatia – enjoys a prime beachside location in Dubrovnik.
The Change Lingerie brand opened its first shop in the Factory Gliwice outlet centre. The store occupies an area of approximately 100 sqm in the facility.
Another eobuwie.pl shop with a Modivo zone has opened in Pasaż Grunwaldzki in Wrocław. The new outlet occupies an area of 300 sqm.
Three new tenants have joined the ranks of the tenants of Bydgoszcz's CH Rondo retail centre. Gudi Home, Pink Box and Piekarnia Grochola Prawdziwy Chleb have signed agreements for premises with a total area of nearly 1,700 sqm.
New appointments
Florin Suicescu has been named COO of Forty Management. With over 30 years of management experience, he has held senior positions in real estate and hotel developments.
Daniel Rutkowski joined Walter Herz Investment Advisory Department, currently consisting of six people, and took the position of Development Manager. He will be responsible for searching for and acquiring investment projects, developing investment potential analysis and building the value of real estate.
Dariusz Proniewicz has joined MDC2's team of experts to take on the position of Development Director BTS, with responsibility for the development of BTS investments.
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