ARTICLES LABELLED WITH TAG hotel

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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31
Aug
2020

Warimpex increases revenues from office properties

by Property Forum
Warimpex achieved a positive operating result (EBITDA) in the first half of 2020 despite losses in the hotel segment due to the coronavirus. This can be attributed primarily to the earnings contribution from the rental of office properties – this segment saw a 15% increase in revenues compared with the prior-year period. Following the posting of property impairments and currency losses, this led to a loss of €21.7 million for the first half of 2020, including a result of minus €3.0 million for the second quarter of 2020.
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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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30
Jul
2020

Developers to invest €300 million in projects on Calea Victoriei

by Property Forum
Calea Victoriei in Bucharest, the 2.8-kilometer-long artery between Piața Victoriei and Piața Națiunilor Unite, will continue to grow as an office and hotel hub in the upcoming years, with the developers' plans to build seven new office buildings and six hotels as a result of investments that could exceed the €300 million threshold, according to Cushman & Wakefield Echinox.
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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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17
Jun
2020

Radisson Hotel Group opens two hotels in Poland

by Property Forum
Radisson Hotel Group announced the opening of the Radisson Blu Hotel in Sopot and the Radisson Hotel Szklarska Poręba, bringing its portfolio to 14 properties in operation in Poland.
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17
Jun
2020

Cyprus-based developer to invest up to €100 million in Bulgaria

by Property Forum
Cyprus-based real estate developer Everty Group intends to invest up to €100 million in Bulgaria during the next four years. The announcement follows the group's first major investment in Bulgaria, the acquisition of the 40,000 sqm Perform Business Centre in central Sofia back in 2019.
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