Locked content Orbis mulls acquisitions

WSE-listed hotel operator Orbis is looking for acquisitions in different markets. “We are interested in takeovers on the hotel market but also other business lines related to this sector,” company’s CEO Gilles Clavie said. If Orbis doesn’t find any takeover opportunities it will spend the allocated ...

Locked content Orbis buys hotel in Budapest for €42.2 mln

WSE-listed hotel operator Orbis acquired the Sofitel Budapest Chain Bridge hotel from Universale International Realitäten for €42.2 million, the company said in a market filing. “The main aims of the transaction are optimization of the hotel business by eliminating costs associated with the rental o...

Locked content Orbis profits on the rise

WSE-listed hotel operator Orbis had PLN 207.13 million consolidated net profit in 2016, compared to PLN 181.55 million in 2015, company said in a market filing. Consolidated sales revenue stood at PLN 1.38 billion vs. PLN 1.26 billion the year before. The company plans PLN 15-170 million CAPEX for t...

Locked content Orbis exercises right to acquire Budapest hotel for €44 mln

    A subsidiary of Orbis has exercised the option to acquire a hotel in Budapest for no more than €44 million, Orbis announced in a statement on Monday.   Orbis said that Accor, its majority shareholder, exercised its right of option to buy the hotel “Sofitel Budapest Chain Bri...

New ibis Styles hotel to open in Lower Silesia in 2018

Hospitality company Orbis has signed a franchise agreement regarding the opening of an ibis Styles-branded hotel in Bolesławiec in Lower Silesia. Ibis Bolesławiec is the investor and owner of the project, which is scheduled for completion in the third quarter of 2018. The hotel will offer 60 rooms a...

Orbis sells Mrągowo Resort

Orbis has signed an agreement to sell the Hotel Mercure Mrągowo Resort and Spa for PLN 18.6 million, press reports stated on Friday. The buyer will be the real estate firm Deporium. The sale was divided into one transaction of PLN 7.14 million (to be paid before the date of concluding the contract o...

ibis budget hotel to open in Lublin in 2018

Hospitality company Orbis has signed a franchise agreement regarding the opening of an ibis budget-branded hotel in Lublin in south-eastern Poland. The hotel will be located on ul. Głęboka in the downtown of the city, and will be developed and owned by investor TK Finans Tomasz Księżopolski, with th...

Locked content Outlook for hotel industry in Poland good – Orbis VP

The Vice President of Orbis hotels, Ireneusz Węgłowski, stated that in spite of the existence of some potential risk factors, he was optimistic about continued growth for the hotel industry in the country. He was speaking at a debate on Monday in Warsaw regarding the future of the industry. The deba...