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Positive Results of Polish Hotel Market
It may be quite surprising, but in 2011 hotel market of Poland was one of the best-performing markets throughout Europe. This has become partially possible thanks to strong results of hotels in Warsaw. Their room yield added 8.3% comparing to the same period of 2010. This information is presented in the latest report from Jones Lang LaSalle Hotels.
Nowadays Polish hotel market is considered one of the best performing markets across Europe. Add here positive economic performance of the country and ongoing instability in the countries of Western Europe, and it will be clear why investors consider Poland one of the most interesting markets of the region.
This year Poland may be especially popular because of the UEFA European championship 2012. The event may help hotels work at full capacity and even raise rates and, thus, get higher revenues. The economy of Poland is expected to grow by 2.3% this year, and this is also a positive factor.
Currently hotel market of Poland can be called immature as there is a small share of internationally famous brands in the total number of hotels. However, such companies as Hilton and Marriott are already planning to launch new hotels in Warsaw and other primary cities of the country. There are not many hotels in pipeline at the moment, so we can expect some big names to come to the country in the nearest future. One of the largest deals of the last year was the sale of the historic Jan III Sobieski hotel. The property was purchased for an undisclosed price by a Norwegian company Wenaasgruppen and then rebranded as Radisson Blu Sobieski.
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