New hotel investments on the rise

2010-01-25



Several new hotels will be completed this year, and even more are due to open their doors in 2011-2012, i.e. prior to the beginning of Euro 2012, according to data from the Hotel Institute and cited by Rzeczpospolita.
According to the investors' own plans, completed projects in 2010 include a 150-room Hilton Hotel in Gdansk and a 154-room Hilton Garden Inn in Krakow. Meanwhile, a new hotel in the Golebiewski chain (659 rooms) is due to open its doors in the first six months of 2010, while a four-star Holiday Inn will commence operations in Bydgoszcz in H2. Meanwhile, the final touches will be made to a B&B chain hotel in Torun at the end of Q2 or the beginning of Q3.
Last year hotels suffered a 20-30% slump in revenues. The crisis had its biggest impact on four- and five-star units, whose core customer group is made up of business guests. Another consequence of the tough economic situation is that many corporate travellers have postponed planned trips, which in turn has driven down hotel turnover. In H2 2009 demand also shrank for training courses, integration meetings and conferences in hotels, which also constitute a major source of earnings. The branch may begin to show signs of recovery in the second half of the year. Many of them already withdrawing offers of 20-30% discounts to lure more guests, a strategy which for the most part only helped further undermine their financial situation.

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