23:46 27 December 2020
State giants take over famous Warsaw hotel
Polski Holding Hotelowy and PHN Property Management – a subsidiary of Polski Holding Nieruchomości (PHN), majority-owned by the State Treasury – are to acquire Cosmar Polska, operating under the name Regent Warsaw Hotel, by February 5, 2021.
Regent Warsaw Hotel is a luxurious facility located at ul. Belwederska in Warsaw. Until March 2014, it was called Hyatt Regency, as part of the famous hotel chain, which, however, withdrew from cooperation with the owner of the facility: the Cosmar Polska company. It was then renamed the Regent Warsaw Hotel, but Cosmar was struggling with problems all the time. The company is currently in bankruptcy.
In May 2020, a tender was announced for the purchase of an organized part of Cosmar Polska, and the starting price was PLN 145 million. According to the announcement of Polski Holding Nieruchomości, its subsidiary: PHN Property Management, offered the highest price for the entity during the auction on 23 December.
The Regent Warsaw Hotel will be another five-star hotel controlled by Polski Holding Hotelowy, which is one of the parties to this transaction. The Renaissance hotel in Warsaw is already in the hands of PHH.
