Accor has entered into a binding agreement to sell its 85.8% stake in Orbis to AccorInvest at a price of PLN 115 per share, corresponding to proceeds for Accor of €1.06 billion (PLN 4.55 billion), in line with Orbis’ Gross Asset Value. This completes the Orbis transaction, following the acquisition by Accor of Orbis’ Management and Franchise business last October for €286m.

Europa Capital has sold the Radisson Collection hotel in Warsaw on behalf of its value add fund, Europa Fund V to Wenaas Hotels Europe A/S, part of Wenaasgruppen. The sale follows the comprehensive refurbishment of the property, which has been upgraded from a Radisson Blu to a five star Radisson Collection branded hotel, the first in Poland. The 311-room hotel will continue to be operated by Radisson Hospitality AB under an International Management Agreement.

Real estate developer Mulberry Development, controlled by businessman Ovidiu Șandor, has obtained the building permit for the Radisson Blu hotel in Timișoara. The 160-room hotel will be completed in 2021. The hotel will be operated by the Radisson Hotel Group.

Libra Internet Bank and developer Niro Group have signed a financing agreement worth €24 million for the development of a Swissôtel hotel on Expozitiei Boulevard in northern Bucharest.

With the checkout of the last guest on 4 November 2019 a new era has started in the story of the downtown building which in the past 20 years was known as the four-star Starlight Suiten Hotel Budapest. The new Mamaison Hotel will open its gates expectedly in mid-summer 2020. CPIPG also announced plans for a brand new 3-star property (located between the ex-Starlight and the Four Seasons Gresham Palace.

The opening of the Moxy Bucharest Old Town hotel in the historical centre of the capital is planned to take place by the end of 2019.

Hungarian investors Indotek Group plans to buy the 5-star Sofitel hotel in the centre of Budapest, according to hvg.hu. The transaction still requires the approval of the Hungarian Competition Authority.

One of the region’s most active investment managers, Griffin Real Estate has ambitious plans to further expand its portfolio in several market segments, potentially outside of Poland as well. Stanislav Frnka, the company’s Senior Partner has talked to Property Forum at Expo Real about Griffin’s investment strategy and the asset classes they’re exploring.

ibis Styles Budapest Genius in the 11th district of Budapest will welcome first guests in the fall of 2020. According to the recently signed agreement, Accor Pannonia Hotels Zrt. will manage the hotel.

Ambitious revitalization plans, a thriving academic centre, nearly one million inhabitants living within its metropolitan area, as well as an increasingly improving infrastructure and extensive transport network are factors that are shaping the image of Łódź as a strong location for real estate investors. However, not only the office market is developing rapidly in the city. According to the report concluded by JLL, the City Hall of Łódź and HAYS Poland entitled "Łódź - Revitalizing a vibrant business and living hub", the residential and hotel segments are also achieving better results.