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.

Libra Internet Bank and developer Niro Group have signed a financing agreement worth €24 million for the development of a Swissôtel hotel on Expozitiei Boulevard in northern Bucharest.

With the checkout of the last guest on 4 November 2019 a new era has started in the story of the downtown building which in the past 20 years was known as the four-star Starlight Suiten Hotel Budapest. The new Mamaison Hotel will open its gates expectedly in mid-summer 2020. CPIPG also announced plans for a brand new 3-star property (located between the ex-Starlight and the Four Seasons Gresham Palace.

The opening of the Moxy Bucharest Old Town hotel in the historical centre of the capital is planned to take place by the end of 2019.

ibis Styles Budapest Genius in the 11th district of Budapest will welcome first guests in the fall of 2020. According to the recently signed agreement, Accor Pannonia Hotels Zrt. will manage the hotel.

Radisson Hotel Group announced an agreement with Polish hotel investor Europlan for a new Radisson Blu resort in Poland. Located in Mazury Lakes, the Radisson Blu Resort, Ostroda Mazury Lakes will have its own marina and water park. The new property brings the group´s portfolio in Poland to 19 properties across five brands – including Radisson Collection, Radisson Blu, Radisson RED, Radisson and Park Inn by Radisson – and will strengthen the group´s position as the largest international operator for leisure destinations in Poland.

Having benefitted from predominantly business-driven demand in the past, Bucharest is currently establishing itself as a popular tourist destination. The analysis of Christie & Co shows a positive growth trend both in supply and demand, resulting in a continuously improving performance of Bucharest’s hotel market.

Radisson Hotel Group has announced the signing of its fourth Radisson Blu property in Romania, the Radisson Blu Hotel, Cluj-Napoca – based in the regional capital of Transylvania. The hotel is to open in spring 2021.

The hotel investment market is reaching new heights in the Czech Republic with year to date volumes at €530 million and 10 hotel transactions. This is more than a 100% growth compared to the average yearly transaction volume of €250 million, recorded over the past five years.