Stars shine more brightly

After years in the doldrums, Central and Eastern Europe only now seems to be making up for lost time in hotel development. Tourists and business people are arriving in growing numbers, followed by players in the hotel sector 2004 was a critical year in the hotel industry, when earnings by companies developing hotels and other related facilities slumped to PLN 276 mln in Poland. But since then, the industry has clearly been picking up and investment is steadily increasing. Data obtained from PMR Consulting, specialists for investors in the Central and East European market, suggest that the value of hotel development in the next five years will rise by an annual average of 17 pct, reaching PLN 1.1 bln by 2012. In material terms this means that available facilities will increase by almost 30,000 rooms between 2008 and 2012, i.e. around 110 hotels annually (market players have already declared their readiness to develop almost 20,000 hotel rooms of all standards). This is something to boa