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Orbis turnover increased to 62 million Euro in Q1

The Orbis Hotel Group turnover increased by 4.4 million Euro in Q1 2017 up to 62 million Euro, a press release shows. Group's EBITDA in the first quarter totalled 8.9 million Euro, representing year-on-year increase of 43.6 per cent, positively affected by the hotel buyback transactions.

2017-04-27 15:57:46

"The beginning of 2017 has shown continuation of solid performances we have been delivering for years," said Gilles Clavie, president and CEO of Orbis. "Thanks to the efforts and full alignment of our teams all over the region, we continue to build sustainable growth."

At the beginning of 2017, in line with asset management plan, Orbis finalized a buy-back transaction of five leased hotels in Budapest (1,150 rooms in total), with 64.1 million Euro cash impact.

The Orbis Hotel Group is one of the largest network of hotels in Poland and in Eastern Europe. Orbis comprises 117 hotels and is the sole licensor of all AccorHotels brands in 16 countries including Bosnia and Herzegovina, Bulgaria, Croatia, Czech Republic, Estonia, Hungary, Latvia, Lithuania, Macedonia, Moldova, Montenegro, Poland, Romania, Serbia, Slovakia and Slovenia.



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