Radisson Hotel Group announced the opening of Hotel Imperial Plovdiv, a member of Radisson Individuals. The newest addition to the portfolio of the Radisson Individuals brand, which initially launched in Europe in Q4 2020, also marks the group’s return to the Bulgarian market.

Hotel chain Accor has signed a management contract with the owner of Binderbubi Hotel & Spa in Mediaș. As part of the agreement signed with local company Daflog, the hotel will be the seventh in Romania to join the Mercure network. 

Local developer Nordis Group aims to increase its presence in the hotel business and attract more investors. The company has invested in two projects with high tourism potential in the mountains and the seaside.

The B&B Hotels Group secured its financial situation by acquiring €180 million, of which €100 million are funds from the launched bank loan, and €80 million is the result of a capital increase. This will allow the implementation of new development plans in Europe and in the world. Additional funds will be allocated to the continuation of acquisitions and construction of new hotels in the next 5 to 10 years, also in Poland.

Radisson Hotel Group is launching a rapid testing service for meeting and event attendees at properties across its EMEA portfolio. The testing program builds on the Radisson Hotels Safety Protocol launched in 2020. In addition, upon full implementation of the program every hotel will be able to provide guests with the option to visit an easily accessible and affordable PCR testing location, either at the hotel site or in its vicinity.

Considering the market history before the pandemic period, Colliers consultants are optimistic about the capacity of the market to recover and that the investors’ interest in this market will again come back in time, though the next few years will certainly prove difficult ones.

Zeus International Group has bought three hotels in Bucharest in a cross-border share deal from Alpha Real Estate Services (ARES), a member of Alpha Bank Group.

According to analyses by JLL, Poles return to hotels in holiday resorts more willingly than in the spring 2020. Business hotels are still waiting for guests.

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.