ARTICLES IN Hotel TOPIC

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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01
Sep
2020

European hotel investment volume drops by 55% in H1 2020

by Property Forum
New European hotel transaction data from Cushman & Wakefield reveals that the first half of 2020 saw a marked increase in investors retreating to their home regions amid COVID-19 related uncertainty, with 78% of the recorded €5.7 billion in transactions (a year-on-year fall of 55%) originating from within Europe.
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10
Aug
2020

Romania’s hotels record all-time low figures due to COVID-19

by Property Forum
A survey, prepared by Cushman & Wakefield in partnership with FIHR, targeting Romanian hoteliers was launched in April 2020 to understand the impacts the COVID-19 pandemic holds on the commercial lodging industry. The survey asses the ways in which business have been affected while identifying the critical factors to prevail from the crisis. Cushman & Wakefield and FIHR remain committed towards ensuring that the industry receives appropriate support by collecting and analysing available data and appealing to authorities.
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10
Aug
2020

Poland’s hotel market offers potential for value creation

by Property Forum
The hotel investment market in Poland is still relatively immature. In an average year, the city of Berlin alone receives twice the number of hotel transactions than Poland as a whole. However, Poland has developed a strong track record in other commercial real estate sectors and, as a result, has an even stronger brand for investing. This has laid down the foundations for global capital to enter the hotel sector, and, indeed, there has been an uptick in the number of international hotel investors actively pursuing opportunities in Poland.
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09
Jul
2020

Accor to open new hotel next to Bucharest’s airport

by Property Forum
Accor has signed a management agreement with Alexandra Residence Design to open 144-room ibis hotel by the end of 2022. The newly signed hotel will be located near the future Terminal 2 of Henri Coandă International Airport in Bucharest. Est Hospitality Consulting is the consultant of the project until its official opening while Cumulus Architecture is responsible for the design.
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01
Jul
2020

Romanian hotel chain ends agreement with Accor

by Property Forum
Romania’s largest hotel chain, Continental Hotels and French hotel group Accor have decided to terminate the management agreement signed 20 years ago for four hotels. According to the mutual agreement, starting with July 1, 2020, four hotels owned by Continental Hotels (Ibis Gara de Nord, Ibis Parlament, Ibis Constanta and Ibis Sibiu) will no longer operate under the Ibis brand, profit.ro reports.
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Latest news


New leases

  • Internet radio station, newonce.radio will move its headquarters to the Norblin Factory in Warsaw. On an area of 366 sqm there will be a new radio studio, editorial offices and office facilities, including a conference room.
  • Specjał Group, Polish-owned FMCG distributor, has leased another 1,400 sqm of warehouse space for its Warsaw branch in Panattoni Park Konotopa II. The tenant was represented during the lease transaction process by real estate advisory firm Cresa Poland.
  • Poczta Polska has leased 3,300 sqm of warehouse space and almost 1,000 sqm of offices in 7R City Flex Gdynia. The agreement has been signed for ten years.

New appointments

  • Two new professionals are joining MDC2 - a warehouse and industrial developer operating on the Polish market. Wojciech Kosiór has been appointed as a Head of Development and will be responsible for project development in Central and Northern Poland. Bartłomiej Kazirod has been appointed as a Project Director working within the construction team.
  • Paweł Suracki joined Colliers as the Investment Services Director. He will be responsible for managing sales and purchasing processes on behalf of Colliers' clients and for establishing and maintaining relationships with potential and current Colliers' partners in Poland.
  • Avison Young has announced a key change to its directors’ team in Budapest with the arrival of Martina Cifer at the helm of its Office Leasing department. In her new capacity, she shall oversee both the company's Landlord and Tenant Representation divisions.


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