ARTICLES LABELLED WITH TAG hotel

Christie & Co’s annual business outlook for 2022 notes the hotel sector’s different developments in Germany, Austria, the Nordics and the CEE region. The key challenges were caused by the correlation and dependence of destinations with their source markets and the varying Covid-19 numbers. 

The growing interest in domestic tourism is conducive to the development of accommodation facilities in resorts. Interesting city hotels are also opening. The current year should bring stabilisation in the hotel industry as more countries move from treating COVID as an endemic rather than a pandemic, says Walter Herz. 

Wyndham Hotels & Resorts announced its entry into Poland with the 205-room Wyndham Wrocław Old Town. Managed by Mogotel Hotel Group the hotel is expected to open early next month and will be located in the heart of Wrocław's city center.

UBM Development Czechia has completed the reconstruction of the more than 100-year-old former Cukrovarnicky Palace on Senovážné Square in the centre of Prague. The 176-room five-star Andaz Prague hotel will open in the historic building, marking the Hyatt chain’s entry into the Czech Republic. The hotel will be put into trial operation in early 2022.

Christie & Co has advised global real estate investment manager Invesco Real Estate on the sale of the Mercure Bratislava Centrum Hotel to CPI Property Group.

Radisson Hotel Group is planning to grow its portfolio of brands operating in Romania and will roll out new formats on the local market. 

InterContinental Romania has finalized the hotel operating contract with IHG Hotel & Resorts so the name of the property in central Bucharest will be changed to Grand Hotel Bucharest. 

The Warimpex Group achieved a solid operational performance in the first three quarters of 2021. The hotel segment in particular recovered versus the previous year and there are also successes to report on the office and development side, with two new lease agreements and the start of construction on a property. The Group’s result for the period improved from a loss of €31.2 million to a gain of €2.5 million. The result for the third quarter alone also climbed into positive territory, rising from minus €9.4 million to €0.8 million.

Romanian Nordis Group has kicked off the development of the second phase of Mamaia 5***** project with hotel and residential components.  

Revetas Group says it has shifted its entire portfolio of assets in Romania to renewable energy, as a continuation of the company’ commitment to ESG practices.