PL

Baltic states Covid hits Baltic hotels

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.

Other European capitals had similar decreases of a similar magnitude. Overall, RevPAR across the EU’s capital cities was down by an average of around 70 pct over the period. Before the Covid-19 crisis, all three markets were on the rise. Tallinn’s RevPAR was growing the fastest to reach EUR 65 in 2019, having risen by an annual average of 5.4 pct since 2015, while the Riga and Vilnius markets had been growing by 2.6 pct and 0.8 pct respectively.

The structure of hotel demand for the three capitals is relatively well-positioned for the markets to recover, as the non-European share of their demand accounts for only 11 pct of their total overnight stays. Long-haul demand is likely to take the longest to recover to pre-pandemic levels, as connectivity has been more severely affected for this segment.
Kimmo Virtanen, the director for Scandinavia, Russia and the Baltic States at Christie & Co

Latest news

Warehouse & industrial

CZECH REPUBLIC Cube to open plant in CTPark Cheb

schedule 24 September 2021
Opr./edited by NN

German bicycle manufacturer Cube is to open a 10,000 sqm production plant in CTPark Cheb in the far west of the country.

Warehouse & industrial

POLAND Uni-logistics leases in Panattoni Park Tricity East VI

schedule 24 September 2021
Opr./edited by NN

Polish freight company Uni-logistics has leased 5,825 sqm of warehouse and office space in Panattoni Park Tricity East VI.

Office & mixed-use development

Poland Torus starts work on Punkt

schedule 23 September 2021

Construction work has begun in the Wrzeszcz district of Gdańsk on the Punkt office building.

Investment & finance

Poland LCP on spending spree

schedule 23 September 2021

The Pasaż Warmiński retail park in Lidzbark Warmiński has been purchased by LCP.

Investment & finance

Poland White Stone buys in Bielany

schedule 23 September 2021

White Stone has bought a second plot of land in the Huta Warszawa area of Warsaw’s Bielany district next to the Młociny metro station.

Investment & finance

POLAND Galeria Malta in Poznań changes hands

schedule 23 September 2021
Nathan North
deputy editor

The Galeria Malta shopping centre in Poznań has been sold by Sierra Balmain. The buyer and the transaction price have yet to be disclosed.

Property and Facility Management

POLAND JLL to fit out 13 CPI office buildings

schedule 23 September 2021
Opr./edited by NN

JLL has been chosen to manage the comprehensive fit-out projects for 13 office buildings owned by CPI in Warsaw with a combined area of 320,000 sqm gla.

Retail & leisure

SLOVAKIA Eperia second stage opens in Prešov

schedule 23 September 2021
Opr./edited by NN

JTRE is to open the second stage of the Eperia shopping centre in Prešov in eastern Slovakia today (September 23rd).

Warehouse & industrial

POLAND Panattoni takes Action in Bieruń

schedule 23 September 2021
Opr./edited by NN

Panattoni is completing a 60,800 sqm logistics centre in Bieruń in Upper Siliesia for retail chain Action.

Office & mixed-use development

Poland C&W take on Podolska 21

schedule 22 September 2021

Cushman & Wakefield has been appointed as an exclusive leasing agent and is to commercialise the 13,500 sqm Podolska 21 office building in Gdynia.

Warehouse & industrial

Poland Silesian warehouse boom

schedule 22 September 2021

Between Q3 2020 and the end of Q2 2021, 1.1 mln sqm of warehouse space was leased across Upper Silesia, with only the Warsaw region seeing more leasing activity, according to the latest figures from Axi Immo.

Green projects

World Skanska to be even greener

schedule 22 September 2021

Skanska has announced it will tackle its own greenhouse emissions more aggressively and cut its 2015 CO2 emissions by 70 pct by 2030.

Retail & leisure

Poland Retail centre development at full throttle

schedule 22 September 2021

This year around 209,000 sqm gla in retail parks is expected to come onto the market, according to the 'Retail parks and convenience centres in Poland' report published jointly by Trei and JLL.

Investment & finance

POLAND BentallGreenOak loaned EUR 90 mln for portfolio buy

schedule 21 September 2021
Nathan North
deputy editor

PBB Deutsche Pfandbriefbank has provided a EUR 90 mln investment loan and VAT facility to BentallGreenOak for the acquisition of a Polish warehouse portfolio.

Warehouse & industrial

ROMANIA Golden Fish wish granted in CTPark Bucharest North

schedule 21 September 2021
Opr./edited by NN

Romanian wholesale company Golden Fish has moved into its new 14,500 sqm facility in CTPark Bucharest North.

Warehouse & industrial

CENTRAL EUROPE BayernLB lends EUR 41 mln for MLP in Unna

schedule 21 September 2021
Opr./edited by NN

BayernLB has provided a EUR 41.25 mln loan to Polish industrial developer MLP Group to finance the construction of MLP Logistics Park Unna in North Rhine-Westphalia.

Residential

Poland Spravia starts PRS work for Heimstaden

schedule 20 September 2021

Spravia (formerly known as Budimex Nieruchomości) has started construction work on two, new stages of its Mińska 69 housing estate in Warsaw.

Green projects

Kajima and Griffin invest in green energy

schedule 20 September 2021

Kajima Europe and Griffin Real Estate have announced the establishment of a joint venture to finance and develop renewable energy projects in Poland.

Investment & finance

Segro raises EUR 500 mln in green bond issue

schedule 20 September 2021

Segro has announced the launch and pricing of a ten-year, EUR 500 mln senior unsecured Green bond issue.

Investment & finance

CEE region EUR 200 mln refinancing for Accolade

schedule 20 September 2021

ČSOB and Unicredit Bank have granted Accolade refinancing for its parks in the Czech Republic worth EUR 150 mln (CZK 3.8 bln). This follows the investor’s refinancing of its Polish portfolio last year for EUR 153 million. Additionally, Accolade has announced that financing worth EUR 54 mln has also been granted by Aareal Bank.

Latest in Hotels

schedule 13 September 2021

From Sofitel to Mogotel in Wrocław

The Sofitel Wrocław Old Town, which was closed down permanently due to the pandemic, is to reopen as a Wyndham hotel after a new operator – Latvian company Mogotel – was secured for the hotel.

schedule 05 August 2021

Radisson Resort Kolobrzeg now open

Radisson has opened its 15th hotel in Poland.

schedule 30 July 2021

IHG to open first Polish Holiday Inn Resort

IHG Hotels & Resorts is to open the the first Holiday Inn Resort in Poland – in the Szklarska Poręba mountain resort in southwestern Poland, in partnership with AKME Wiśniewski Szklarska Poręba.

schedule 14 July 2021

H2 Budapest now open

The H2 Hotel Budapest, Trademark Collection by Wyndham has opened.

schedule 09 July 2021

Wing completes B&B Hotel Budapest City

Wing has completed the first Hungarian B&B Hotel on the banks of the Danube in Budapest, having converted the former Angyal office building on Boráros tér, near Petőfi Bridge.

schedule 08 July 2021

Art Hotel opens in Belgrade

Radisson Hotel Group has opened the Belgrade Art Hotel.

schedule 02 July 2021

Hotels count the pandemic cost

In 2020, EUR 370 mln was transacted in the hotel sector in Bulgaria, the Czech Republic, Hungary, Poland, Romania and Slovakia, according to the third CEE hotel investment report published by CMS and Cushman & Wakefield.

schedule 01 July 2021

Waltzing in Matild once again

The Matild Palace hotel has reopened in Budapest after five years of extensive renovations. The building, which is owned by Özyer Group, is to be run by Marriott International as a Luxury Collection Hotel.

schedule 25 June 2021

IGHP reports on hospitality losses

According to the Chamber of Commerce (Izba Gospodarcza Hotelarstwa) for the Polish Hotel Industry, Polish hotels face losses from May this year of up to PLN 750 mln.

schedule 09 June 2021

Radisson Blu Bucharest reopens

The Radisson Blu Hotel, Bucharest, has reopened following a major capital investment to elegantly transform the hotel’s lobby and garden area, as well as increase the number of guest rooms to over 600.

schedule 09 June 2021

Warsaw Hub hotels the first for Well Health-Safety

The International Well Building Institute (IWBI) has confirmed that the two hotels in The Warsaw Hub development have been awarded the Well Health-Safety Rating.

schedule 01 June 2021

Hotels prepare for recovery

Most owners and operators expect a rebound in the hotel sector in European capitals over 2023-2024, according to Cushman and Wakefield.

schedule 19 May 2021

Focus now in Elbląg

Focus Hotels has opened an 85-room hotel in Elbląg.

schedule 05 May 2021

IntercityHotel Budapest now open

The IntercityHotel Budapest has opened next to the Keleti railway station., in the eastern part of the city centre.

schedule 21 April 2021

Radisson opens Hotel Imperial Plovdiv

Radisson Hotel Group has opened the Hotel Imperial Plovdiv under its Radisson Individuals brand.

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.

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