ARTICLES IN Hotel TOPIC

27
Jan
2021

CEE hotel markets expected to recover by 2024

by Property Forum
Though significantly affected by the COVID-19 pandemic and its impacts, the hotel market sees activity and interest from hotel operators. In the CEE & SEE regions, they are showing interest in Prague, Budapest and Warsaw, with a number of smaller regional cities – mostly Polish – also making the top 30. Operators are confident about market recovery, predicting that smaller cities will bounce back in 2022, followed by capitals in 2024.
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27
Jan
2021

Prague hotels record 16.6% occupancy in 2020

by Property Forum
The latest STR figures show that the Prague hotel market has borne the brunt of the coronavirus crisis in Europe. It recorded the steepest decline in average revenue per room in 2020, down 84.6% on the previous year on the back of an average 16.6% annual room occupancy rate. Even so, confidence in the Prague hotel market and its long-term potential is hardly waning, as underscored by the unflagging interest not only among investors, who are always on the lookout for good opportunities to buy but also among hotel operators, who have identified Prague as the main target of their activities. Results reported for last summer, when rules were eased for a while, signalled that the market would be able to recover relatively quickly once the restrictions are lifted. Complete recovery, however, is not expected until 2024.
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22
Dec
2020

Hoteliers in Romania try their best to survive COVID-19

by Property Forum
A survey prepared by Cushman & Wakefield in partnership with FIHR, targeting Romanian hoteliers, was launched in November 2020 to understand the impact of COVID-19 on the Romanian hotel industry and their perspectives on the outlook of this sector. This survey is the second instalment after a previous questionnaire that was launched in April 2020. The intention is to gain the appropriate attention and appeal to authorities for more meaningful and targeted support towards our hospitality sector. Cushman & Wakefield and FIHR remain committed to ensuring that the industry receives appropriate support by collecting and analysing available data and appealing to authorities.
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18
Dec
2020

Delta to invest €130 million in Belgrade mixed-use project

by Property Forum
Delta Real Estate has secured the resources and the technical documentation for the construction of the Delta Center business complex in New Belgrade. The complex will include the 26,000 sqm Hotel InterContinental Beograd, in addition to 26,000 sqm of office space. The project will also include an exclusive shopping area and restaurants, as well as a large underground car park.
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07
Dec
2020

Budapest hotels face more challenges due to COVID-19

by Property Forum
The impacts of COVID-19 have been felt far and wide across industries, and especially so for the travel and tourism industry. Cushman & Wakefield has published its Q3 Budapest Hospitality Marketbeat report.  
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01
Dec
2020

Ott Ventures launches €500 million CEE hotel fund

by Property Forum
Ott Ventures, the private equity arm and fund management platform run by Orco Property Group and MaMaison Hotels & Residences founder Ott Properties, has announced the launch of its first hotel fund, Velvet. The pan-European investment vehicle is targeting total assets under management of €500 million with a planned LTV of 50%. It will invest across Europe with a focus on the main Central European markets of Poland, Czech Republic and Hungary as well as Germany and Austria.
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26
Nov
2020

Bucharest’s Sheraton hotel to gain 100-room extension

by Property Forum
Grand Plaza Hotel, the company that owns the Sheraton Bucharest Hotel in the centre of the Romanian capital, plans to add around 100 rooms to the 270 existing ones by building a new section, economica.net reports. The cost of the project is estimated at €5 million.
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17
Nov
2020

Crowne Plaza signs first hotel in Budapest

by Property Forum
IHG (InterContinental Hotels Group) has signed a management agreement with Granit Polus Group for a compelling property to be re-branded to Crowne Plaza Budapest in 2021. The hotel, located in downtown Pest in the same building complex as the Westend City Centre shopping centre, is currently operated by Hilton under the name Hilton Garden Inn Budapest City Centre.
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24
Sep
2020

Budapest hotels project 70% lower revenue in 2020

by Property Forum
Most hotels in Budapest will see their revenues decrease by more than 70% compared to 2019 this year, while hotels outside the capital expect 20% to 40% lower revenues, according to a representative survey commissioned by the Hungarian Hotel and Restaurant Association.
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04
Sep
2020

Hotels could offer co-working spaces to increase revenue

by Property Forum
Savvy hotel operators could harness the remote working trend and adapt their space to deliver a ‘hybrid hospitality’ concept to generate an additional source of income. Colliers International, predicts that where hotels provide office space to enable co-working and interacting, turnover could be increased by up to 20 percent.
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Latest news


New leases

  • Industrial developer Contera has concluded a contract with Pilsner Urquell for warehouse space measuring 3,676 sqm at Contera Park D1 in Ostrava-Hrušov.
  • 108 Agency has helped secure the lease of 1,600 sqm of industrial space to comic book publishing house Seqoy in Panattoni Park Prague Airport II.
  • M7 Real Estate has announced that it has let a total of 1,605 sqm in Mokotów Plaza to three existing tenants (KDI, Rockwool and Telepizza) under new leases, maintaining the office building as their Polish headquarters. The office now has an occupancy of 81% with an average unexpired lease term of over 7 years.

New appointments

  • Jan Kamoji-Czapiński has joined Colliers' EMEA Location Strategy department, which was launched earlier this year. Jan took up the position of Associate Director and will be responsible for, among others, supporting companies in the development and implementation of location strategies.
  • Prologis Hungary has appointed Adrián Nagy as Facility Manager. Adrián gained a wealth of experience in the real estate, technical and construction sectors while working for BIS Hungary Kft. At Prologis, he is taking on management responsibilities and will report directly to Szilvia Andrelli, Senior Manager for Real Estate & Customer Experience.
  • Gábor Gratzl has reinforced the WING team as Business Development and Transaction Manager since February 2021. Prior to his current position, he worked as a senior investment advisor for the CBRE Hungary Capital Markets Consulting team for more than five years.


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