about us | newsletter | contact | archive | members area
"We focus mainly on the advanced automation trend through a new and modern vision"
Mihaela Druga, Signal Iduna»
  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  |  5022 Views
Daily Info
Transelectrica inaugurated the Campia Turzii station, fully refurbished with 9 million Euro

Transelectrica inaugurated the 220/110/20 kV Campia Turzii (Cluj County) electricity station, after an investment of about 42 million RON (9 million Euro).

CTP starts CSR project for the workforce market nearby Bucharest

CTP is starting a social responsibility program that aims to facilitate a series of meetings between high school students and representatives of important companies that are t...

Enel and Traian Vuia International Airport in Timisoara launch the first EV charging station in a Romanian airport

Enel Energie and the Traian Vuia Airport in Timisoara inaugurated the first electric vehicle charging station in an airport in Romania, in order to encourage electric mobility...

OTP Bank Romania posted a profit of 6.8 million Euro in the first nine months of 2017

OTP Bank Romania registered an after-tax profit of 6.8 million Euro, in the first nine months of the year, decreasing by three per cent year over year. The bank returned to pr...

Impact launches Luxuria Domenii Residence with 630 apartments in Bucharest

Impact has launched Luxuria Domenii Residence, a residential project comprising 630 apartments in the north of Bucharest.

 
 
   
advertising

advertising

advertising

advertising

advertising

advertising

advertising

advertising

More on News
MAE requests Ukraine to adopt necessary measures so that Romanians learn in their mother tongue

The Foreign Affairs Ministry (MAE) announced that it will continue to take steps with the international authorities to signal the negative impact of the legislative amendme...

Former PM Ciolos: We cannot risk Romania's future

Former Prime Minister Dacian Ciolos was present Sunday evening at the protest in Bucharest, on which occasion he argued that he considered joining the manifestations becaus...

PM Tudose reaffirms commitment to unconditional partnership with Romanian Army

The government of Romania has always been and will stay an unconditional partner to the Romanian Army, Premier Mihai Tudose said in a message on the National Army Day.

Romania initiates first meeting of EU Council Presidencies' Trio with Finland and Croatia

Minister-Delegate for European Affairs Victor Negrescu has initiated on Monday in Brussels, the first, minister-level meeting of the Trio of Presidencies that Romania is du...

Minister Negrescu: Romania is profoundly pro-European, we will be even more significant after Brexit completion

Minister Delegate for European Affairs Victor Negrescu said on Thursday that Romania is a profoundly pro-European state and will become more significant after the Brexit pr...

Iohannis: A significant delay in tax measures would be required

President Klaus Iohannis said that a significant delay in the amendments to the tax legislation would be required, adding that the January 1, 2018 deadline for their applic...

Dragnea: Amendments to the tax code, code of tax procedure to pass under government ordinance

Amendments to the tax code and the code of tax procedure will pass under a government ordinance and will be unveiled after the government meeting, national leader of the So...