The construction of a new building in the BudaPart mixed-use project in Budapest has started. As Mihály Schrancz, Managing Director of developer Property Market Kft., said earlier in an interview with Portfolio in December, the company has signed an agreement with the Radisson chain for a mixed-use development comprising a four-star hotel and office space. The Radisson Hotel Budapest BudaPart, to be built as part of the BudaPart Downtown project, will be operated by the Radisson Hotel Group international chain.

In Romania, the hotel transaction volume reached about €9.5 million in 2020, down 87% from approximately €75 million in 2019, Cushman & Wakefield Echinox data shows.

The Hilton hotel network has unveiled plans to open two new Hampton by Hilton hotels in Poland, following the signing of two franchise agreements.

Vision Apartments announced it signed the purchase agreement of the former Ramada Bucharest Majestic Hotel. The company didn't disclose the value of the transaction.

ANA Hotels, a company owned by businessman George Copos, announced an investment of €25 million in the Athenee Palace Hilton hotel in Bucharest.

Nordis Group, a real estate developer specialized in the construction of luxury real estate, announces the launch of a new exclusive complex, consisting of a hotel and residential apartments, located in Brașov.

Optim Project Management has completed its work on the new 6,715 sqm ibis Timișoara City Center for Hotel Development SA, a company owned by brothers Emil and Marius Cristescu.

Hungarian integrated architecture and building services provider DVM group started the construction works of Drechsler Palace in January 2021 at 25 Andrássy Avenue, Budapest. The monument building, previously home to the Pension Fund of the Hungarian State Railways and the Hungarian State Ballet Institute, is owned by QPR Properties who is transforming the building into the first W Hotel in Hungary, W Budapest.

The topic of sustainability has become one of the most important megatrends of our time. Sustainable construction is also becoming increasingly important in the hotel real estate market, leading to an increase in demand for corresponding certificates in Austria, according to Christie & Co.

Warsaw, Krakow, Gdansk (Tricity) and Wrocław are among the top ten markets for hotel operators in Central and Eastern Europe and in Southern and Eastern Europe, making Poland the regional leader. Hotel operators are also targeting other regional cities across Poland, says global real estate services firm Cushman & Wakefield.