about us | newsletter | contact | archive | members area
Andreea Paun, Griffes
In 2018, we will be delivering Unirii View»
  News:      POLITICS   |   ECONOMICS   |   ENERGY   |   INVESTMENTS   |   APPOINTMENTS   |   GREEN   |   INFRASTRUCTURE   |   REAL ESTATE   |   AGRIBUSINESS   |   DRIVING   |   CITY LIFE   |   EVENTS   |

Investors pour more money into the booming CEE hotel industry, says Cushman & Wakefield

The investment volume achieved in 2016 totalled almost 1.2 billion Euro with 46 transactions recorded in core CEE hotel investment markets, while in 2015 reached just over 700 million Euro with 45 transactions, shows a press release issued by Cushman & Wakefield.

2017-03-20 16:13:46

Austria was the star performer with almost 800 million Euro transacted, which made up 67 per cent of the total investment volume. In other CEE markets volume was lower than in 2015 with a decline in Poland which more than halved in volume. The Czech Republic accounted for 18 per cent of total CEE investment share; most of the investment took place in Prague which saw 7 transactions including the Hilton Old Town, Park Hotel and Chopin Hotel.

The CEE hotel industry reported growth across all key performance metrics. Increasing number of tourists have chosen CEE destinations, thus occupancy rates returned or even surpassed the pre-crisis levels, reaching 72 per cent on average up from 69 per cent. As the cost of visiting CEE has gone up along with the increasing hotel room rates, profits have been soaring. The average price per room reached 76.6 Euro up from 73.6 Euro in 2015. While the Eastern markets achieved double digit growth in terms of revenue per available room, the more mature markets of Central Europe including Prague and Warsaw saw growth of around six per cent.

"The Romanian hotel industry currently benefits from strong fundamentals and an important growth potential," said Marius Grigorica, senior broker capital markets Cushman & Wakefield Echinox. "The main performance indicators in 2016 benefited from a positive evolution and registered growth rates almost double as compared to other capital cities like Prague and Warsaw. Thus, the Bucharest occupancy rate in 2016 increased by 4.7 per cent as compared to the previous year and the average daily rate (ADR) benefited by 5.8 per cent rise."

In 2017, investors' activity will be notable especially in Hungarian, Austrian and Romanian hotel investment markets, where significant assets are set to be put up for sale or about to be transacted.



COMMENTS
There are 0 comments:

 
ADD A COMMENT
 
Name
Email
Comment
Validation Code
   
 
 

0 Comments  |  5265 Views
Daily Info
Romatsa buys insurance policy for 8.4 million Euro

Romatsa, the state company that manages the air traffic control activity in Romania, has purchased insurance policies worth 39 million RON (8.4 million Euro) for its employees...

Romania's new cars sales hit 10-year record

Sales of new cars in Romania rose by 27.8 per cent in the first four months of this year, to 51,853 units, a 10-year high, according to the Automotive Manufacturers and Import...

Employees in Bucharest, Cluj, Timis and Ilfov best paid in 2018

Employees in Bucharest and the counties of Cluj, Timis and Ilfov are the best paid this year in terms of net average monthly earnings. At the opposite end are employees in the...

BearingPoint reaches 560 employees in Romania

Dutch management and technology consultancy firm BearingPoint has reached 560 employees in Romania and plans to continue hiring, local Profit.ro reported.

Taxify Comfort launches in Bucharest to compete with Uber Select

Taxify is launching a new service in Bucharest for all its users, Taxify Comfort, which will include cars of a superior class compared to its regular service, such as Audi A6,...

 
 
   
advertising

advertising

advertising

advertising

advertising

More on News
ING Bank Romania to accelerate business development through digitization

Customers are increasingly interacting with the bank through its digital platforms and are making more card payments, according to a report issued by ING Bank Romania.

2 Comments

TransferGo: We will come to a point where money transfers will be dominated by app usage

Cash will become obsolete and this will be the result of digital finance advancement, Marius Nedelcu, Country Manager at TransferGo told The Diplomat-Bucharest.

UniCredit announces updates in the Mobile Banking application

UniCredit Bank launches new facilities in the up-to-date version of its Mobile Banking application to provide customers with a simpler and faster user experience.

2 Comments

ESOP: We expect that the green building trend further grows

The Romanian market is one of the most dynamic in the region due to the accelerated development in IT&C, BPO, shared services industries, and to the expansion of research &...

Immofinanz: Constant, visible shift towards energy efficiency on the local office sector

Romania's strong economic growth in 2017 placed the country in a leading position in the CEE region and the trend is expected be sustainable over the next years, Christian ...

1 Comment

Crosspoint: Currently, there is a relatively small number of green office buildings throughout Romania

2017 has been a good year for the office market all throughout the CEE region: low vacancy rates (Bucharest - nine per cent, Warsaw - 14 per cent, Budapest - 9.2 per cent, ...

Iulius Mall: 2017 a good year both for office premises delivery and office demand from companies planning to expand

Compared to the other countries in the region, Romania still has some catching up to do in terms of high quality office spaces that measure up to European standards, Lauren...