Atlas spans the map
The Hilton Hotel and Convention Center in Warsaw officially opened its doors last week during an event presided over by top executives from the international hotel group and the investor on the Hilton Warsaw project, Atlas Management Company.
Hilton has already booked a number of large-scale events for this year and the next, thanks to its high-standard hotel and conference facilities.
"Hilton's sales network around the globe assures us that the fifteen major international conferences planned for this year are only the beginning for our operations in Warsaw. We're in the process of negotiating a further five large events this year and have 15 more planned for 2008 - a figure we plan to double," declared Bert Fol, general manager. Hilton's business is expected to generate a further R15 (zł.56.9) million for the city from related spending in tourism and retail sectors.
Future investments
At the event, Hilton's President for Europe and Africa, Wolfgang Neumann, also announced the company's intention to open at least 11 more hotels in Poland over the next five years.
The company plans to develop the other brands in their portfolio following the establishment of their flagship in Warsaw. "We will focus on the mid-range Hilton Garden Inn and follow up with the introduction of the economy Hampton by Hilton," declared Neumann.
"Encouraging economic indicators and dynamic investment activity throughout the region is driving the demand for quality hotel rooms and meeting facilities," said Neumann, referring to Hilton's ambitious plans for growth in the CEE region. In Poland, Hilton is looking to set up properties in cities like Wrocław, Łódź, Gdańsk and Szczecin.
Eyes on expansion
Atlas Management Company, owner of Atlas Estates and the Warsaw-based Hilton Hotel, is looking to expand its investment activity in primary and secondary cities in CEE countries in the residential and commercial sectors.
"Our strategy is to continue to increase the number of properties in non-capital cities but also to expand our operations into other Central and Eastern European countries," says Amos Pickel, CEO at Atlas Management Company. Atlas is investing in seven projects in Poland alone this year, the Platinum Towers development among them. Platinum Towers will feature two high-rise buildings offering 380 luxury apartments and 23,000 sqm of office space adjacent to the Hilton property.
Already listed on London's AIM market, Atlas recently announced its intention to debut on the WSE. Investments in Poland comprise the source of over half of the company's assets. It will make a final decision regarding the Warsaw IPO in the coming weeks.
As for the future of the partnership between Hilton and Atlas, Phil Holland, the CFO of Atlas Management Company states, "We will consider every attractive investment opportunity. We hope to carry out further projects in cooperation with Hilton. However, at this stage we are not yet prepared to reveal any details."
