It is the best time for hotel developers
Poland was placed last in the hotel beds per 10,000 inhabitants ratio. So the time is absolutely right for the hotels. For a developer with an attractive plot a hotel project is much more attractive than an office or retail project, says Robert Szczepanek of Causa Finita.
In his opinion the hotel chains are searching for partners among developers and the determination they show is very strong. Developers are also determined to cooperate given the current situation on the commercial real estate market. "Banks are eager to finance the hotel projects, but their expectations are different from those of developers. Especially in terms of the share of their own equity in the credit line or the repayment guarantee. So the hotel market players share the same goal - to build hotels," adds Robert Szczepanek.
