PL

ROMANIA Romanian hotels could return to 50-60 pct occupancy

Hotels
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.

In March, the first official month of pandemic, Romanian hotels recorded a 68 pct decline in the number of stays, according to The National Institute of Statistics (INS). In Bucharest, the occupancy rate fell to just 15 pct in March and April, when most hotels actually closed to cope with the significant decrease in turnover. The decline was relatively higher than in other countries, since across European the number of tourists decreased by only 19 pct and worldwide the decrease was 57 pct, according to The World Tourism Organization.

The good news is that in Romania more than 50 pct of the hospitality sector is absorbed by domestic tourism, which has all the conditions in place to relaunch faster than international tourism. Business tourism makes up an important share of the demand in Bucharest – more than 60 pct. Although it is possible for corporate tourists to change behaviour, choosing, in some cases, online meetings at the expense of travel, we still expect this market segment to be the first to unlock the demand from foreign tourists, even in the very near future
Raluca Buciuc, a partner and the head of valuation services and hospitality advisory services at Colliers International in Romania

The average occupancy rate in Bucharest could reach 40–45 pct by the end of this year.

Latest news

Warehouse & industrial

Poland Active warehouse investment in Silesia

schedule 27 October 2020
Opr./edited by AH

The investment market in Upper Silesia was particularly active over the first six months of 2020, according to figures from Axi Immo.

Construction

CENTRAL EUROPE Strabag wins EUR 60 mln contract for Polish Embassy in Berlin

schedule 27 October 2020
Nathan North
deputy editor

The Polish subsidiary of Austrian company Strabag has been awarded a EUR 60 mln contract to construct the new Polish Embassy building in Berlin.

Warehouse & industrial

SLOVAKIA ‘Slovak Amazon’ readies for expansion in Bratislava Logistics Park

schedule 27 October 2020
Opr./edited by NN

E-commerce logistics provider Isklad.eu has leased 6,500 sqm at Bratislava Logistics Park in Senec, on the Slovak capital’s north-western outskirts.

Warehouse & industrial

ROMANIA CTP to double its Transylvanian presence

schedule 26 October 2020
Opr./edited by NN

Czech industrial developer CTP is to invest EUR 50 mln in the expansion of CTPark Timișoara I and II.

Investment & finance

POLAND Partners to buy Buma office portfolio

schedule 26 October 2020
Nathan North
deputy editor

Swiss global private equity firm Partners Group is to buy a portfolio of office properties from Kraków-based Grupa Buma for more than EUR 200 mln.

Hotels

UKRAINE Radisson debuts in Odessa

schedule 23 October 2020
Opr./edited by NN

A Radisson hotel is to open for the first time in the Black Sea resort of Odessa.

Investment & finance

POLAND Unfinished landmark on sale again

schedule 23 October 2020
Nathan North
deputy editor

Polish-Russian gas company Europol Gaz has once more put up for sale a 2.27 ha site at ul. Literacka 7 in Warsaw’s Bielany district – on which stands the shell of a large building project that was abandoned in 2002.

Office & mixed-use development

POLAND Segro moves to Centrum Marszałkowska

schedule 22 October 2020
Opr./edited by NN

Segro has relocated its Warsaw office to Centrum Marszałkowska and has also decided to stay longer in the Andersia Tower in Poznań.

Warehouse & industrial

CZECH REPUBLIC Nexen next into CTPark Žatec

schedule 22 October 2020
Opr./edited by NN

Korean tyre manufacturer Nexen Tire Europe has leased 12,000 sqm of warehousing for a central distribution centre in CTPark Žatec in the Ústí nad Labem Region.

Warehouse & industrial

POLAND DSV expands into Panattoni Park Bydgoszcz II

schedule 22 October 2020
Opr./edited by NN

Logistics operator DSV Road has leased 2,366 sqm in Panattoni Park Bydgoszcz II.

Warehouse & industrial

CZECH REPUBLIC Garbe enters Chechia via Chomutov

schedule 21 October 2020
Nathan North
deputy editor

German logistics developer Garbe Industrial Real Estate has entered the Czech market with the acquisition of a brownfield site in Chomutov, where it plans to develop a 32,000 sqm industrial project.

Property and Facility Management

CZECH REPUBLIC Savills takes on Immofinanz’s Prague portfolio

schedule 21 October 2020
Nathan North
deputy editor

Immofinanz has appointed Savills as the exclusive property manager for its portfolio of seven office buildings in Prague, with effect from January 2021. The total floor area of the assets comes to app. 123,000 sqm.

Office & mixed-use development

HUNGARY Váci Greens completed

schedule 21 October 2020
Nathan North
deputy editor

The sixth and final building of the Váci Greens office complex, building ‘E’, has come into use with the issuing of its occupancy permit.

Warehouse & industrial

ROMANIA Maspex and Maracana opt for Constanța BP

schedule 21 October 2020
Nathan North
deputy editor

Two new leasing contracts have been secured for the first phase of the mixed-use Constanța Business Park project, which is being developed by Globalworth and Global Vision.

Warehouse & industrial

POLAND Silplast packs up for Hillwood Ruda Śląska

schedule 21 October 2020
Opr./edited by NN

Furniture packing and manufacturing company Silplast has leased a 3,500 sqm warehouse in Hillwood Ruda Śląska.

Warehouse & industrial

POLAND AMiO moves into Panattoni Park Zabrze

schedule 21 October 2020
Opr./edited by NN

Polish car and aircraft parts importer and distributor AMiO has leased 2,800 sqm of warehouse space in Panattoni Park Zabrze in Silesia.

Property and Facility Management

POLAND C&W PM for Chmielna 89

schedule 21 October 2020
Opr./edited by NN

Cushman & Wakefield has been appointed property manager for the newly completed Chmielna 89 office building in Warsaw’s Wola-Centrum district.

Warehouse & industrial

POLAND Two big leases at P3 Poznań

schedule 20 October 2020
Opr./edited by NN

P3 Logistic parks has started the development of the second phase of P3 Poznań. The first two buildings will offer more than 23,000 sqm of total leasable space.

Warehouse & industrial

CENTRAL EUROPE MLP starts work on Berlin warehouse park

schedule 20 October 2020
Nathan North
deputy editor

Polish warehouse developer MLP Group has started the construction of MLP Business Park Berlin I in Ludwigsfelde on the city’s southern outskirts.

Warehouse & industrial

Poland Panattoni buys Janki site

schedule 19 October 2020
Opr./edited by AH

Panattoni has bought 3.14 ha of land in Janki, on Warsaw’s southwestern outskirts.

Latest in Hotels

schedule 23 October 2020

Radisson debuts in Odessa

A Radisson hotel is to open for the first time in the Black Sea resort of Odessa.

schedule 30 September 2020

Radisson opens at Vilnius Airport

Radisson Hotel Group has announced the opening of Park Inn by Radisson hotel at Vilnius Airport.

schedule 29 September 2020

Mostly woe for Hungarian hotels

Horwath HTL Hungary, together with the Hungarian Hotel & Restaurant Association, has published the results of a survey conducted among its members to assess the results of the Covid-19 crisis.

schedule 28 September 2020

Holiday Inn Express Gdańsk Airport on its way

InterContinental Hotels Group and FB Antczak (the investor behind the project) are to open a Holiday Inn Express hotel at Lech Wałęsa Airport in Gdańsk in 2022.

schedule 21 September 2020

Convivio finalises five-star portfolio buy

Convivio Hotels has completed the EUR 573 mln acquisition of eight of the five-star hotels in the pan-European Dedica Anthology portfolio from Värde Partners.

schedule 07 September 2020

First Hyatt opens in Bulgaria

The first Hyatt-branded hotel has opened in Bulgaria – the Hyatt Regency Sofia.

schedule 07 September 2020

Hotels could boost revenue by 20 pct by embracing co-working – Colliers

Hotel operators could take advantage of the trend for remote working and adapt their space for a ‘hybrid hospitality’ concept to generate an additional revenue, according to Colliers International.

schedule 01 September 2020

Hotel investors holding out for H2 – C&W

In the first half of 2020 there was a marked increase in European hotel investors retreating to their home regions due to the uncertainty surrounding the pandemic, according to research by Cushman & Wakefield.

schedule 26 August 2020

Ibis Styles opens in Galați

Accor has opened its first hotel in Galați on Romania’s eastern border – the Ibis Styles Dunărea Galați.

schedule 04 August 2020

Sofitel Wrocław Old Town falls victim to the pandemic

Polish hotel operator Orbis has decided not to re-open the Sofitel Wrocław Old Town after its closure due to the pandemic.

schedule 04 August 2020

First Estonian Citybox opens its doors

The first Citybox hotel in Estonia and outside Norway was opened on August 1st in the Porto Franco quarter of Tallinn’s passenger port area.

schedule 31 July 2020

Globalworth pioneers hotel accommodation for office tenants

Globalworth has been preparing a hi-tech hotel complex for its office tenants in the Upground Tower residential building in Bucharest.

schedule 23 July 2020

Suntago holiday village opens its doors

The first guests have checked into Suntago Village, a complex of 92 holiday bungalows that forms part of the Park of Poland leisure complex near Mszczonów, about 50 km southwest of Warsaw.

schedule 22 July 2020

Holiday Inn Express to open in Budapest

InterContinental Hotels Group has signed a franchised agreement with Dutch company Borealis Hotel Group to open the Holiday Inn Express Budapest City Centre.

schedule 16 July 2020

Danubius ready to open more Budapest hotels

The Danubius Hotel Erzsébet in Budapest city centre is to re-open after the pandemic lockdown on July 17th, followed by the Danubius Hotel Gellért on August 7th.

schedule 03 July 2020

Ibis to open at Bucharest airport

Accor has signed a management agreement with Alexandra Residence Design to open a 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.

Categories