News for the Hospitality Executive |
Warsaw - May 2012 - The Polish hotel market
was one of the best
performing in Europe in 2011 with hotels in Warsaw posting an 8.3%
appreciation
in room yield when compared to 2010, according to Jones Lang LaSalle
Hotels’
latest Hotel Intelligence report. The Polish hotel investment market
has gained
pace due to the country’s impressive economic performance and its
market shows
great potential for further growth compared to major western European
cities in
terms of risk versus return parameters.
Angus Wade, Executive Vice President CEE, Jones Lang LaSalle Hotels said: “Warsaw in particular has seen an impressive rebound in hotel performance since the dip in 2009. Growth in hotel trading performance in 2010 and 2011 was driven by a substantial increase in both occupancy and average room rates. The UEFA European championship in 2012 is expected to support further growth in trading performance and during the summer months hotels are expected to operate at full capacity, allowing hoteliers to charge high prices. Another major demand generator will be a sound Polish economy that is forecast to grow by 2.3% in 2012. Although growing slower than in 2011, the Polish economy will remain one of the best performing in Europe. Demand for business travel is therefore expected to remain robust and the market can expect a further expansion of its MICE sector.” Christoph Härle, CEO Continental Europe, Jones Lang LaSalle Hotels said: “The Polish hotel market is relatively immature compared to other major European capitals, with branded hotels representing only a small market share of the total bedroom stock. However, branded supply is growing with Marriott and Hilton planning to launch new hotels in Warsaw and other key Polish cities. The supply in pipeline is still comparatively limited and we are likely to see an increasing number of major international brands to enter one of Europe’s most dynamic hotel markets.” Angus Wade concluded: ”After a quiet 2010, the investment market saw an impressive comeback in 2011 with a total transaction volume of €125 million. One of the largest transactions was the sale of the Jan III Sobieski (vendor’s advisor was Jones Lang LaSalle Hotels), which was bought by a Norwegian property company Wenaasgruppen for an undisclosed price (rebranded to Radisson Blu Sobieski). We expect a continued interest from foreign investors in Poland, with a focus on quality assets in key cities such as Warsaw and Krakow.” About Jones Lang LaSalle Hotels Jones Lang LaSalle Hotels, the first and leading global hotel investment services firm, is uniquely positioned to provide the depth and breadth of advice required by hotel investor and operator clients, through a robust and integrated local network. In 2010, Jones Lang LaSalle Hotels provided sale, purchase and financing advice on $4.1 billion worth of transactions globally. In addition, advisory and valuation services were provided on over 1,000 assignments. The global team comprises over 225 hotel specialists, operating from 39 offices in 20 countries. The firm's advice is supported by a dedicated global research team, which produced 70 publications in 2010 in addition to client research. Jones Lang LaSalle Hotels' services span the hospitality spectrum; from luxury single assets and large portfolios to select service and budget hotels, resorts and pubs. Services include investment sales, mergers and acquisitions, capital raising, valuation and appraisal, asset management, strategic planning, operator selection, management contract negotiation, consulting, industry research and project development services. Jones Lang LaSalle Hotels' clients have access to the resources of its parent company, Jones Lang LaSalle (NYSE: JLL). www.joneslanglasallehotels.com
|
Contact: Natasha Southwick +44 (0)20 7399 5538 [email protected] |