Jan III Sobieski hotel to change hands

Shareholders of Jan III Sobieski hotel in Warsaw, which include Pekao SA and PKO BP, are interested in disposing of their stakes and have already sent out offers to potential buyers. The company finished last year deep in the red with losses amounting to zl. 19.7 million on revenues of zl. 71 million. It also has negative capital of zl. 133.7 million. "We have commissioned a company charged with changing the ownership of the hotel. The intention of the banks is to focus on their financial activities and allow the potential sector investor to run the company," said the head of the hotel's supervisory board, Slawomir Kruzmanowski. He also claimed that the net result was unfavorable due to negative currency exchange rates, but that the hotel is renowned for the quality of its managerial staff. The company also underwent financial and organizational restructuring last year. (Parkiet, p. 4) M.M.