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...

Locked content Orbis to open 8 hotels in CEE

WSE-listed hotel operator Orbis will open eight new hotels in Eastern Europe in the coming months, the company said in a press release. The company plans to open facilities in Romania (Mercure Sighisoara Binderbubi, ibis Styles Arad, Mercure Bucharest Unirii), Serbia (Mercure Belgrade Excelsior), Bo...

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...