Savills has been appointed property manager of Posejdon, a €78 million (PLN 350 million) office, conference and hotel complex in Szczecin. The building is entering an operational phase, with more office tenants moving in and the first retail stores now open. The opening of two hotels (four- and three-star hotels) is scheduled for the second half of 2020.
Although plans related to the introduction of new projects will now be thoroughly verified, investors' interest in the hotel sector in Poland is still high. The latest report by consulting company Walter Herz shows that the number of categorized hotel facilities in Poland has increased by over 30% since 2012.
A new weekly EMEA COVID-19 research report from Cushman & Wakefield, 'COVID-19 Impacts For EMEA Real Estate', outlines the sweeping impact the COVID-19 crisis is having on the European hotel market in 2020.
A new report on the hotel investment scene in CEE reveals that in 2019 the CEE6 markets were rapidly catching up with their western neighbours, both in terms of investment volumes and sophistication. The second annual report by Cushman & Wakefield and international law firm CMS explores the underlying investment trends across CEE6 countries and looks at the various innovations that have shaped the hotel industry in recent years.
Marriott is closing food and beverage outlets, reducing staff and closing floors or even entire hotels due to the extremely low levels of occupancy across the world. The company has also temporarily deferred most brand standards to help owners and franchisees, including delaying renovations due in 2020 by one year, deferring required furniture, fixtures and equipment funding and suspending brand standard audits.
CPI Property Group offered the Czech government the entire capacity of the 14 hotels operated by CPI Hotels in the event that the government requires extra space for patients. The offer includes approximately 5,000 beds in 2,490 rooms and conference space that can normally accommodate almost 10,000 guests in total.
The year 2019 was a record one for the Prague hospitality sector in terms of transactions: the amount of investments in hospitality properties exceeded €500 million. This is the highest figure in history and twice the average for the last five years. This is also the first time that the Czech Republic has made it to the Top 10 in the European hospitality investment chart – to number nine. In 2020, the volume of hospitality transactions could become twice as high – €1 billion, according to Cushman & Wakefield.
UAE business conglomerate Al Habtoor Group is set to open a regional office in the Hungarian capital of Budapest, to service its existing European operations and scout for new investment opportunities. The group, with its wide-ranging interests in the hospitality, real estate, automotive, education and vehicle leasing sectors, plans to expand its enterprise reach in new European markets.
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