Plans for Poland's first Hilton Hotel greeted with skepticism by analysts

Pol-Mot Holding has announced plans to build Poland's first hotel belonging to the international Hilton network. The construction project, estimated to cost some $50 million, will be undertaken by Grzybowska Centrum, which is owned by Pol-Mot Holding. "The hotel will be located in Warsaw at the junction of Grzybowska and Wronia streets. It will have 360 rooms," commented Pol-Mot Holding president Andrzej Zarajczyk. However, analysts are skeptical about the project, claiming that investment in four and five star hotels in Poland has already reached saturation point. "Four hotels belonging to leading networks Hyatt, Westin, Radisson SAS and Intercontinental are already being built in Warsaw," pointed out Paulina Gorska from real estate investment consultants CB Richard Ellis. (Puls Biznesu, p. 10) A.Z.