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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

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.

Investment & finance

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schedule 14 May 2021

GTC has announced a gross margin from rental activities of EUR 27 mln with an operating profit before tax and fair value adjustments of EUR 15 mln.

Warehouse & industrial

CEE region CTP publishes strong quarterly results

schedule 14 May 2021

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Retail & leisure

Trei continues with Vendo expansion

schedule 14 May 2021

Trei Real Estate Poland has opened three new Vendo retail parks in May in Myśliborz, Koszalin and Piekary Śląskie.

Warehouse & industrial

Czech Republic Warehousing market tight in Prague

schedule 14 May 2021

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Warehouse & industrial

CZECH REPUBLIC VGP starts fifth Plzeň hall

schedule 14 May 2021
Opr./edited by NN

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Warehouse & industrial

POLAND Grembox in Panattoni Ruda Śląska III

schedule 14 May 2021
Opr./edited by NN

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Warehouse & industrial

POLAND Orchestral manoeuvre into MLP Pruszków II

schedule 14 May 2021
Opr./edited by NN

Wielka Orkiestra Świątecznej Pomocy [the Great Orchestra of Christmas Charity] has leased 1,500 sqm in the MLP Pruszków II logistics park.

Investment & finance

Poland Adgar buys PDT for Brain Embassy

schedule 13 May 2021

Adgar Poland has bought the 10,000 sqm PDT Wola building in Warsaw's Wola district.

Office & mixed-use development

Poland More windows in The Park

schedule 13 May 2021

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Retail & leisure

Poland Shopping to come back

schedule 13 May 2021

Shopping centre footfall in February, prior to the fourth lockdown, averaged around 80 pct of last year’s levels so shoppers are going to return to shopping centres once restrictions have been lifted, write Cushman & Wakefield.

Events

Poland myhive Warsaw Spire – the ‘Suits on Bikes’ starting point

schedule 13 May 2021
Eurobuild Conferences

myhive Warsaw Spire is now an established landmark of Warsaw’s Wola district, an office tower that probably no one needs a map or an app to find. Therefore it’s also the perfect meeting point for those taking part in our annual ‘Suits on Bikes’ cycle ride

Retail & leisure

POLAND LCP buys Green Park

schedule 13 May 2021
Nathan North
deputy editor

LCP Properties has added another retail park to its Polish portfolio – this time in Rawa Mazowiecka.

Warehouse & industrial

POLAND Pharma firm first in 7R City Park Warsaw Airport III

schedule 13 May 2021
Opr./edited by NN

Polish pharmaceutical company Polfa Warszawa has become the first tenant of 7R City Park Warsaw Airport III by leasing 5,500 sqm in the warehousing complex, which is under development close to Warsaw’s Chopin Airport.

Retail & leisure

ROMANIA More catering for Funshop customers

schedule 13 May 2021
Nathan North
deputy editor

Polish company Scallier has signed a number of lease agreements with food and beverage tenants for two retail parks of its Funshop Park network in Romania.

Office & mixed-use development

Poland VMLY&R enters Zabłocie Business Park

schedule 12 May 2021

Brand and customer experience agency VMLY&R has signed a 600 sqm lease agreement for space in the Zabłocie Business Park B office building in Kraków.

Warehouse & industrial

Poland Still No Limit in Tristar Grodzisk

schedule 12 May 2021

Logistics operator No Limit has renewed its lease in the Tristar Grodzisk industrial and logistics park.

Office & mixed-use development

Czech Republic Brewer enters BB Centrum

schedule 12 May 2021

International brewer ABInBev has leased 7,400 sqm in building B in the BB Centrum in Prague.

Office & mixed-use development

Hungary Doktor24 expands in CityZen

schedule 12 May 2021

Private healthcare provider Doktor24 has more than doubled the space it leases in the CityZen office building in Budapest, managed and operated by ConvergenCE.

Investment & finance

POLAND Londoners buy Polish warehouse portfolio

schedule 12 May 2021
Nathan North
deputy editor

Polish Logistics has expanded its portfolio with the acquisition of five logistics parks in Poland from AEW Europe with a combined area of 208,992 sqm.

Latest in Hotels

schedule 05 May 2021

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schedule 21 April 2021

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schedule 08 April 2021

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schedule 06 April 2021

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schedule 01 April 2021

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schedule 29 March 2021

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schedule 26 March 2021

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schedule 22 March 2021

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schedule 18 March 2021

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schedule 18 March 2021

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schedule 12 March 2021

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schedule 11 March 2021

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schedule 04 March 2021

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schedule 01 March 2021

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schedule 08 February 2021

Warsaw Regent under new management

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schedule 31 December 2020

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schedule 15 December 2020

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schedule 02 December 2020

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schedule 23 November 2020

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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.

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