PL

CENTRAL EUROPE Ott Ventures launches EUR 500 mln Central Europe hotel fund

Hotels
Ott Ventures, the private equity and fund management platform run by Orco Property Group and MaMaison Hotels & Residences founder Ott Properties, has announced the launch of its first hotel fund – Velvet.

The pan-European investment vehicle is targeting total assets under management of EUR 500 mln with a planned LTV of 50 pct. It will invest across Europe with a focus on the main Central European markets of Poland, the Czech Republic and Hungary as well as Germany and Austria.

The Velvet hotel fund will invest in properties from budget to trophy assets, in city centre locations, both in existing properties and developments. It has already identified several opportunities for its seed portfolio.

The current market conditions will allow us to have access to attractive investment opportunities by bringing much needed equity or hybrid equity to investors or operators facing cash flow challenges. With 30 years of experience in turning around hotels and deploying capital I have put together a team of hotel experts with extensive experience in Central Europe, which is our geographical focus, but we will remain open to investing in other major European markets should we find opportunities that match our knowledge, strategy and target returns.
Jean-François Ott, the founder and CEO of Ott Ventures

As the now defunct Orco Property Group, the company’s team worked with EBRD on developing MaMaison Hotels & Residences in the region and later teamed up with AIG. It was the first international player to invest in the Sunčani Hvar resort on the island of Hvar in Croatia. Both MaMaison Hotels & Residences and Sunčani Hvar were later acquired by CPI Property Group and in 2016 Orco itself was taken over by the Czech real estate investor. Ott Ventures was set up as its own fund management platform in 2019 and has since
launched its first logistics fund.

Latest news

Events

POLAND Complete the survey and win some fantastic prizes!

schedule 24 March 2021
Eurobuild Conferences

We invite all cyclists, both regular bikers and those who only cycle occasionally, to fill in our questionnaire and share their comments and opinions on cycling to work.

Residential

Echo Investment moves into education

schedule 13 April 2021

Echo Investment has presented its concept for a primary school for 300 pupils in Warsaw’s Służewiec district.

Retail & leisure

Poland Trei busy building Vendo Parks

schedule 13 April 2021

Trei Real Estate Polska is currently constructing six Vendo Park retail parks with a combined area of 26,000 sqm.

Green projects

Poland NoVa stays green

schedule 13 April 2021

The NoVa Park centre in Gorzów Wielkopolski has been awarded BREEAM-In-Use for the eighth time.

Property and Facility Management

Poland Cushman takes on Neopark for Amundi

schedule 13 April 2021

The Neopark office complex in Warsaw has been acquired by a fund managed by Amundi Real Estate and Cushman & Wakefield has been appointed as the property manager.

Public buildings

Poland Work soon to start onr Warsaw Symphony hall

schedule 13 April 2021

The Sinfonia Varsovia symphony orchestra has received the last of the design documentation for its new centre.

Warehouse & industrial

POLAND Polish logistics firm chooses MLP Business Park Poznań

schedule 13 April 2021
Nathan North
deputy editor

A Polish logistics company has leased 1,500 sqm of warehouse and office space at MLP Business Park Poznań.

Office & mixed-use development

POLAND More cyber security for Business Garden Warsaw

schedule 13 April 2021
Nathan North
deputy editor

STM Cyber has leased more than 300 sqm in the Business Garden office complex in Warsaw.

Investment & finance

CZECH REPUBLIC AFI buys Prague office park from Tristan

schedule 13 April 2021
Nathan North
deputy editor

AFI Europe has signed an agreement to acquire Avenir Business Park in Nové Butovice (Prague 5) from UK investor Tristan Capital Partners for EUR 66.5 mln.

Green projects

POLAND Green distinction for Panattoni and DB Schenker

schedule 13 April 2021
Opr./edited by NN

A 5,165 sqm cross-docking terminal developed by Panattoni for DB Schenker in Świdnik on Lublin’s eastern outskirts has receiving BREEAM ‘Very Good’ certification.

Office & mixed-use development

CEE REGION A more flexible future for offices

schedule 12 April 2021
Nathan North
deputy editor

The pandemic has changed the way offices operate forever and accelerated processes that would otherwise have taken years – according to the ‘Workplace Flexibility Vademecum’ report by Skanska’s commercial development business unit in the CEE region and Business Link.

Green projects

Poland Battery reprocessing coming to Poland

schedule 09 April 2021

With a loan of up to EUR 25 mln from the European Bank for Reconstruction and Development (EBRD), Elemental Holding will establish the first facility in Poland and the EU for recycling both car batteries and other waste containing metals.

Residential

Czech Republic Student accommodation still University owned in Prague

schedule 09 April 2021

The total stock of purpose-built student accommodation (PBSA) in Prague stands at more than 28,400 beds.

Warehouse & industrial

Poland High Hope SupplyChain comes to Poznań

schedule 09 April 2021

Trading company High Hope SupplyChain has leased close to 2,500 sqm of warehouse and office space in Panattoni Park Poznań VII.

Investment & finance

POLAND Hungarian investor buys four Warsaw office buildings

schedule 08 April 2021
Nathan North
deputy editor

Immofinanz has sold four office buildings in Warsaw with a total leasable area of around 45,000 sqm to Hungarian investment manager Indotek Group for EUR 72.5 mln.

Investment & finance

CENTRAL EUROPE S Immo rebuffs Immofinanz over cancelled AGM

schedule 08 April 2021
Nathan North
deputy editor

S Immo has rejected a request from rival Austrian real estate company Immofinanz (which intends to make a takeover bid for S Immo) not to postpone its AGM, originally scheduled for April 30th 2021.

Property and Facility Management

POLAND Savills takes on Szyperska OC for Investika

schedule 08 April 2021
Nathan North
deputy editor

Savills has been appointed as the property and leasing manager of Szyperska Office Center in Poznań, which was recently acquired by Czech investment fund Investika.

Investment & finance

Romania Mitiska refinances retail park portfolio

schedule 08 April 2021

Mitiska REIM has secured a EUR 123 mln senior debt facility from Erste Group Bank for its entire retail park portfolio in Romania.

Corporate social responsibility

Poland JLL to advise Robyg on ESG strategy

schedule 08 April 2021

Robyg Group has turned to JLL to advise it on drawing up a comprehensive environmental, social and corporate governance (ESG) strategy.

Office & mixed-use development

Poland Two tenants in Tischnera

schedule 08 April 2021

 IT companies drEryk and Innergy have leased space from Cavatina Holding in the Tischnera Office building in Kraków and will take up a combined 1,200 sqm.

Latest in Hotels

schedule 08 April 2021

Covid hits Baltic hotels

Over 2020, RevPAR slid by 64 pct in Vilnius, 68 pct in Riga, and 72 pct in Tallinn according to figures from the Christie & Co consultancy.

schedule 06 April 2021

Ibis lands in Golden Sands

An Ibis Styles hotel is to open in Golden Sands [Златни пясъци] in May. Accor has signed a franchise agreement with Valdemosa EOOD to rebrand the recently renovated Roomer Hotel Golden Sands.

schedule 01 April 2021

B&B ready to splurge

B&B has raised EUR 180 mln for its worldwide development plans.

schedule 29 March 2021

Prague and Budapest sale-and-leaseback for B&B

B&B Hotels has sold two hotels – in Prague and Budapest – to Primonial REIM, an independent Paris-based real estate asset management group for an undisclosed sum.

schedule 26 March 2021

Zeus buys three Bucharest hotels from Ares

Greek hotel management company Zeus International has bought a portfolio of three hotels in Bucharest in a cross-border share deal from Cyprus-based Alpha Real Estate Services (ARES) for an undisclosed sum.

schedule 22 March 2021

Face-lift and more at the Hotel Thermal

Trigema has started reconstruction work on the Hotel Thermal Karlovy Vary - Areál bazén in West Bohemia.

schedule 18 March 2021

Underlying demand still strong in Bucharest

The Bucharest hotel market continues to receive attention from hotel operators looking to expand their chains.

schedule 18 March 2021

Poles want to go on vacation

Poles are returning to hotels in holiday resorts more willingly than in the spring of 2020 but business hotels are still waiting for guests.

schedule 12 March 2021

Ramada Bucharest Majestic in Swiss hands

Swiss company VisionApartments has bought the former Ramada Bucharest Majestic Hotel.

schedule 11 March 2021

Two Hampton by Hiltons to open in Poland

Two new Hampton by Hilton hotels are to open in Poland – in Bialystok and in Tarnowo Podgórne on Poznań’s north-western outskirts.

schedule 04 March 2021

Timișoara City Center now open

Optim Project Management has completed the construction of the 6,715 sqm ibis Timișoara City Center hotel on behalf of Hotel Development.

schedule 01 March 2021

W Budapest hotel starts to take shape

Hungarian building services provider DVM group has started the construction work on the neo-renaissance Drechsler Palace in Budapest in a project to prepare it to become the first W Hotel in Hungary.

schedule 08 February 2021

Warsaw Regent under new management

PHN Property Management and Polskiego Holdingu Hotelowego have signed an agreement to buy Cosmar Polska, the owner of the Regent Warsaw Hotelu for PLN 130.5 mln.

schedule 31 December 2020

Arena Hospitality poised to buy Belgrade hotel

Arena Hospitality Group has been loaned HRK 32 mln (EUR 4.2m) by Serbian bank AIK Banka for the Croatian hotel group to acquire the 88 Rooms hotel in Belgrade.

schedule 15 December 2020

Raffles comes to Moscow

Accor and Kievskaya Ploshchad Group have announced that they will be opening the Raffles Moscow hotel in H2 2022.

schedule 02 December 2020

Ott Ventures launches EUR 500 mln Central Europe hotel fund

Ott Ventures, the private equity and fund management platform run by Orco Property Group and MaMaison Hotels & Residences founder Ott Properties, has announced the launch of its first hotel fund – Velvet.

schedule 23 November 2020

Crowne Plaza comes to Budapest

InterContinental Hotels Group has signed a management agreement with Gránit Pólus Group for the Hilton Budapest City hotel in the city centre to be re-branded as the Crowne Plaza Budapest in 2021.

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.

Categories