Locked content Orbis prelim. revenue down 7.2% in Q3

Hotel operator Orbis reported Q3 preliminary revenue of PLN 391.7 million, 7.2 percent less compared to a year ago. In the 9-month period revenue declined by 1.8 percent to PLN 1.08 billion. Like-for-like sales rose by 0.4 percent to PLN 389.1 million in Q3 and by 3.2 percent to PLN 1.08 billion in ...

Locked content Orbis will buy land for a new hotel in Kraków

Orbis signed a preliminary agreement for the purchase of land at Worcella street in Kraków to build a new hotel, the company informed. The value of the contract is PLN 9.2 million net. The final contract should be signed no later than by September 30, 2020 after fulfillment of conditions. In Februar...

Locked content Orbis unit does not use right to buy hotel in Prague

Kateřinská Hotel, a wholly-owned subsidiary of Orbis, will not carry out the option to buy Hotel Century Old Town Prague MGallery By Sofitel in Prague, the company said. The seller questioned the financial condition of the purchase option, and parties are currently discussing a possible amicable sol...

Locked content Orbis sees 2018 capex at PLN 320 mln

Hotel operator Orbis targets 2018 capex of at least PLN 320 million versus PLN 93.5 million in H1. The expenses increase is due to two purchase transactions closed in July. In addition, Orbis plans to finish acquisition of MGallery in Prague next month and to open new hotels in Vilnius and Warsaw by...

Orbis buys hotel in Lithuania

WSE-listed hotel operator Orbis acquired newly-built Ibis hotel in Vilnius in Lithuania. The price tag for the 164-room facility was €8.7 million, the company said in a market filing.

Orbis to buy a hotel in Bucarest for €11.3 mln

WSE-listed hotel operator Orbis unit, Accor Hotels Romania signed a deal to purchase hotel Mercure Unirii in Bucharest for €11.35 million and hopes to finalize the agreement within five working days from signing the deal, Orbis said in a market filing.

Locked content Orbis with PLN 232 mln profit in 2017

WSE-listed hotel operator Orbis posted a consolidated net profit of PLN 232.44 million in 2017, up from PLN 207.15 million last year. Operational profit stood at PLN 315.68 million, up by 19.4 percent y/y, while consolidated revenue reached PLN 1.45 billion, a 5.4 percent y/y growth. “Positive econo...

Orbis opens two hotels in Slovenia

WSE-listed hotel operator Orbis opened its first two hotels in Slovenia, under Mercure and ibis Styles brands, the company said in a market filing. The facilities were launched in cooperation with a local partner and investor Terme Maribor.

Orbis sells hotel in Budapest for €75 mln

WSE-listed hotels operator Orbis sold its Sofitel Hotel in Budapest to Starwood for €75 million. As part of the agreement, the parties will conclude a management agreement under which the hotel will be managed by the Orbis subsidiary and will continue its operations under the Sofitel brand. The mana...

Locked content Orbis profit soars in Q3 to PLN 106 mln

Poland’s largest hotel operator Orbis posted consolidated net profit of PLN 105.89 million in Q3 2017, up from PLN 80.05 million recorded in Q3 of last year, the company stated. Operational profit stood at PLN 129.09 million in the same period (PLN 104.82 million in Q3 2016), while consolidated reve...