InterContinental Romania has finalized the hotel operating contract with IHG Hotel & Resorts so the name of the property in central Bucharest will be changed to Grand Hotel Bucharest. 

The Warimpex Group achieved a solid operational performance in the first three quarters of 2021. The hotel segment in particular recovered versus the previous year and there are also successes to report on the office and development side, with two new lease agreements and the start of construction on a property. The Group’s result for the period improved from a loss of €31.2 million to a gain of €2.5 million. The result for the third quarter alone also climbed into positive territory, rising from minus €9.4 million to €0.8 million.

Romanian Nordis Group has kicked off the development of the second phase of Mamaia 5***** project with hotel and residential components.  

Revetas Group says it has shifted its entire portfolio of assets in Romania to renewable energy, as a continuation of the company’ commitment to ESG practices. 

Occupancy rates in Prague’s hotels were 50% higher during the summer holidays this year in comparison with last July and August, propelling Prague upwards in the European cities’ chart. Room rates exceeded €64 in the summer, also an improvement over last year. Many hotels worked with an operating profit and the growing number of reservations is also a positive sign. Autumn traditionally brings a drop in tourism and thus in performance – September occupancy rates are still comparable with summer rates and prices are even higher, but there are concerns about another wave of the pandemic and the potential operating restrictions. However, the improved performance in the summer has confirmed again that Prague’s hospitality market has been consistently sought after and popular, and its performance is hindered mostly by external and temporary factors.

In October 2021, Hotel Astral became the second hotel in Fidurock's residential portfolio. On an area of ​​2,689 sqm, it offers its visitors a total of 60 comfortably furnished rooms, a modern conference room with a capacity of up to 100 seats and a summer terrace for quiet outdoor seating.  

Wing and Accor have concluded a long-term agreement for a 12,000+ sqm area of the 42,000 sqm Liberty complex. As a result, the office building pursuing the BREEAM Excellent rating has added to its profile a dual-branded hotel under the Ibis and Tribe brands. The hotel part will be located in the landmark South wing and it is expected to be completed in 2023, which means this will be the first Tribe Hotel in Hungary.

Roger Andersson, Managing Director of Vastint Poland talked to Property Forum about the accelerating residential property prices, faith in hotel investments in Poland, and constantly rising construction costs.

Romanian developer One United Properties and Le Manoir, a domestic gastronomy group, have jointly acquired the boutique hotel Carpathian Lodge Măgura from Buzău, in a deal worth €2.35 million, according to ZF.ro. 

Katarzyna Tencza, Associate Director Investment & Hospitality at Walter Herz comments on the current situation on the COVID-battered Polish hotel market.