PL

Investors look closer at CEE hotels

Hotels
EUROPE Strong demand has led to higher hotel yields in a number of Eastern European markets, making them more attractive for those prepared to accept more risk.
“Our latest research shows that the European hotel market is now a much more mature and liquid asset class than a decade ago with one of the broadest buyer pools in the real estate industry,” comments Richard Dawes, director in the Savills hotels team.

European hotel transaction volumes remained high in 2018, exceeding those of 2017 according to data from RCA. Cross-border investors made up the lion’s share of transactions, accounting for 65.4 pct of total volumes in 2018, outstripping the 10 year average of 54.9 pct.

According to Savills, while well-established tourist cities such as London and Paris account for a sizeable share of international arrivals it is the smaller emerging cities that are reporting the strongest growth. Lisbon, Bucharest, Budapest and Prague have all reported strong growth in airport arrivals over the last three years alongside increasing interest levels as indicated by travel-related Google searches.

According to Savills associate Crosspoint Real Estate in 2018 in Romania accommodation stock rose by 1.6 pct while the number of tourists grew by 6.7 pct y-o-y. The hotel industry had an estimated turnover of around EUR 1.2 bln.

By the end of 2020, the number of operational hotels should rise in Romania by 10 pct from 1,633 to 1,800. Among the most important deliveries will be the Courtyard and Autograph Collection hotels owned by Marriott International in Bucharest, a series of ibis hotels in Bucharest and Timișoara and the extension of the Mercure brand in cities such as Timișoara, Sibiu and Brașov. There is also a trend to refurbish, upgrade and reopen old hotels such as the Lido Hotel that opened in January this year built in the 1930s.

Codrin Matei, managing partner, head of capital markets at Crosspoint states: "The increased interest in this asset class can be seen through the number of developments started last year in Bucharest as well in secondary cities, given that more and more investment funds target a diversification of their portfolio.”

Latest news

Green projects

3D-printed house “built” in 22 hours

schedule 03 July 2020
Nathan North
deputy editor

Prvok od Buřinky the first Czech 3D-printed floating house made from concrete has now been “built” in České Budějovice.

Warehouse & industrial

POLAND Prologis leasing and re-leasing in Wrocław

schedule 03 July 2020
Opr./edited by NN

A number of new leases and renewals have recently been signed for space in Prologis parks in Wrocław.

Hotels

ROMANIA Ibis to open at Bucharest airport

schedule 03 July 2020
Nathan North
deputy editor

Accor has signed a management agreement with Alexandra Residence Design to open 144-room Ibis hotel near the future Terminal 2 of Bucharest’s main Henri Coandă Airport by the end of 2022.

Office & mixed-use development

POLAND ABB moves to Monopolis

schedule 02 July 2020
Opr./edited by NN

Swiss automation tech company ABB is to relocate to newly-completed offices in the M1 building of the Monopolis complex in Łódź, where it has leased 1,400 sqm.

Office & mixed-use development

Warsaw in top ten fintech cities - Savills

schedule 02 July 2020
Opr./edited by NN

Warsaw is the tenth most attractive city in Europe for the fintech sector, according to a survey by Savills.

Office & mixed-use development

The future’s flex

schedule 02 July 2020
Nathan North
deputy editor

Hungarian-based serviced office operator New Work has gone from strength-to-strength in the CEE region since its foundation eight years ago in the aftermath of the credit crunch. Now it is poised to expand even further in the wake of the latest crisis, according to the company’s CEO, Hubert Abt, who we spoke to in an exclusive interview

Investment & finance

POLAND Arrow takes aim at Poland

schedule 01 July 2020
Opr./edited by NN

Arrow Capital Partners has acquired Airport House in Warsaw for its USD 3 bln European Strategic Industrial Real Estate (SIRE) platform for an undisclosed sum.

Warehouse & industrial

POLAND Panattoni to begin latest Silesian park

schedule 01 July 2020
Opr./edited by NN

Panattoni is to develop its latest warehouse and manufacturing park in Silesia – Panattoni Park Zabrze II.

Investment & finance

POLAND Strong H1 volumes despite the virus

schedule 01 July 2020
Opr./edited by NN

An investment volume of EUR 2.9 bln was transacted on Polish real estate in the second best H1 on record, according to JLL.

Investment & finance

POLAND Investor confidence set to recover – Cresa

schedule 30 June 2020
Opr./edited by RO

Despite the impact of the pandemic, Poland should continue to be an attractive commercial real estate investment destination, according to Cresa.

Office & mixed-use development

POLAND GFT moves HQ to Brama Miasta

schedule 30 June 2020
Nathan North
deputy editor

German software provider GFT is moving its Polish headquarters in Łódź to the first building of the Brama Miasta complex in the city centre, where it will occupy three floors and 4,700 sqm.

Office & mixed-use development

POLAND Skanska seals largest ever lease

schedule 30 June 2020
Nathan North
deputy editor

Skanska has finalised the signing of a ten-year, 47,000 sqm lease with insurance company PZU for all the office, retail, storage and parking space in the third stage of Generation Park in Warsaw – the entire Y building.

Warehouse & industrial

POLAND Accolade to invest EUR 47 mln in Gorzów

schedule 30 June 2020
Opr./edited by RO

Accolade has been revealed to be the investor behind the Panattoni Park Gorzów Wielkopolski, which is currently being developed by Panattoni in western Poland.

Property and Facility Management

POLAND MVGM chosen for City One

schedule 29 June 2020
Nathan North
deputy editor

MVGM has taken over the management of City One, the first stage of the City Forum office complex in Wrocław.

Office & mixed-use development

Romania Hagag takes on Știrbey Palace

schedule 29 June 2020
Opr./edited by AH

Real estate developer Hagag Development Europe has received the urban planning certificate for its restoration and conversion into offices of Știrbey Palace in Bucharest.

Investment & finance

CZECH REPUBLIC City West C1 and C2 sold for CZK 2 bln

schedule 29 June 2020
Nathan North
deputy editor

Czech real estate group Českomoravská Nemovitostní (ČMN) has completed the CZK 2 bln (app. EUR 74.5 mln) acquisition of two office buildings: City West C1 and C2 in Prague’s western Stodůlky district.

Technology

WORLD Investment set to rise in home office tech

schedule 29 June 2020
Opr./edited by RO

As many as 88 pct of EMEA occupiers intend to invest more in technology designed specifically to aid home working, according to CBRE’s 2020 EMEA Occupier Flash Survey.

Office & mixed-use development

POLAND Wrocław office market on the road to recovery

schedule 29 June 2020
Opr./edited by RO

The Wrocław office market is now on the recovery path after the Covid-19 pandemic, according to Polish consultancy Walter Herz.

Warehouse & industrial

POLAND Poland set for a nearshoring boom?

schedule 29 June 2020
Opr./edited by RO

Poland may become a nearshoring hotspot, especially after the Covid-19 pandemic, claims consultancy Savills.

Warehouse & industrial

POLAND Elastron comes to North Gate

schedule 29 June 2020
Opr./edited by RO

Leather and fabrics distributor Elastron has leased almost 3,000 sqm in the S5 Wrocław North Gate industrial park in Psary north of Wrocław.

Latest in Hotels

schedule 03 July 2020

Ibis to open at Bucharest airport

Accor has signed a management agreement with Alexandra Residence Design to open 144-room Ibis hotel near the future Terminal 2 of Bucharest’s main Henri Coandă Airport by the end of 2022.

schedule 24 June 2020

Two Radissons open

Radisson Hotel Group has announced the opening of the Radisson Blu Hotel, Sopot and the Radisson Hotel Szklarska Poręba

schedule 22 June 2020

Romanian hotels could return to 50-60 pct occupancy

The Romanian hospitality market could return to an occupancy rate of 50–60 pct for recognised brands towards the end of the year, as long as the epidemic remains stabilised or improves, according to Colliers International.

schedule 17 June 2020

Ibis Styles Bucharest City Center ready to open

ROMANIA Ibis Styles Bucharest City Center in the centre of Bucharest is to open on June 22nd.

schedule 16 June 2020

AAU signs up Zeitraum for the new school year

Student housing operator Zeitraum has entered into a new partnership with the Anglo-American University in Prague (AAU) to provide accommodation with 120 beds for its students in the new academic year 2020/2021.

schedule 03 June 2020

Hilton Tallinn Park Hotel now 'Very Good'

ESTONIA East Capital Real Estate has announced that the Hilton Tallinn Park Hotel is the first hotel in the country to have been awarded BREEAM-In-Use with a rating of ‘Very Good’.

schedule 19 May 2020

Accor teams up with Axa for guest medical support

WORLD Hotel group Accor is partnering with Axa to provide medical support for guests of the hotel chain.

schedule 09 May 2020

Hungarian hospitality hit badly by pandemic

HUNGARY The number of nights spent by foreign guests in Hungarian hotels and other commercial board slumped by 68 pct y-o-y in March, chiefly due to the pandemic, according to the latest figures from the Hungarian Central Statistical Office (KSH).

schedule 26 March 2020

Orbis brings Tribe to Kraków

POLAND Polish hotel operator and developer Orbis is to buy a 595 sqm plot of land at ul. Worcella 6 in Kraków's old t willown for PLN 9.2 mln net.

schedule 23 March 2020

One million tourism jobs lost per day

WORLD One million jobs are being lost every day in the travel and tourism sector due to the sweeping effect of the coronavirus pandemic, according to the World Travel & Tourism Council (WTTC).

schedule 20 March 2020

Unimpressive February for hotels

EUROPE The hotel occupancy in European hotels fell in February by 1.8 pct to 63.6 pct, according to STR. Revenue per available room (RevPAR) decreased by 0.6 pct to EUR 64.68.

schedule 12 March 2020

Hotel in former Bydgoszcz office building takes shape

POLAND The redevelopment of the former Projprzem Makrum office building in Bydgoszcz into a three-star Focus Hotel has entered an advanced stage.

schedule 12 March 2020

Spa in a mediaeval monastery

POLAND The Best Western Plus Hotel Podklasztorze has opened a wellness area after refurbishment work.

schedule 09 March 2020

Orpea to dominate care home market?

POLAND Orpea is about to complete the development of the Rezydencja Antonina elderly care centre in Piaseczno near Warsaw, while in Poznań it is beginning work on its largest Polish project. The French care home specialist, which now has app. 1,100 beds in nursing homes and rehabilitation clinics in Poland, plans to build eight new centres.

schedule 04 March 2020

Once upon a time in Warsaw

POLAND The five-star Nobu Hotel Warsaw is to open on June 2nd – its first hotel in Central and Eastern Europe.

schedule 03 March 2020

A&O opens first Warsaw hostel

POLAND The first A&O hostel opened in Warsaw on February 8th with 200 rooms and 600 beds.

schedule 03 March 2020

First Vienna House R.evo to open in Katowice

POLAND The very first Vienna House R.evo hotel is to open in Katowice in March 2021.

schedule 02 March 2020

Unibep to build modular hotel

POLAND Unihouse, a subsidiary of Unibep, has been awarded a contract for the construction of the first stage of a modular hotel project in Olszówka, near Mszczonów.

schedule 02 March 2020

Crowne Plaza comes Kołobrzeg

POLAND Baltic Wave, which is building a hotel in Kołobrzeg on the Baltic coast, has signed a franchise agreement with Inter Continental Hotels Group (IHG) for the management of the hotel, which as a result, will be the first five-star Crowne Plaza Hotels & Resorts brand hotel in Poland.

schedule 28 February 2020

Dream Island opens in Moscow

RUSSIA On Februrary 29th the 100 ha Dream Island theme park developed by Regions Developments is to open in central Moscow.

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