Keyword: Orbis Hotel Group
Expanding beyond hotels, Accor is set to invest €225 million on initiatives to boost its presence in hospitality and entertainment services.
The Paris-based company is looking to acquire remaining shares of the Polish hotel operator for €337 million.
The total value of real estate transactions is expected to exceed €6.3 billion for 2018.
The country’s government has been looking to tourism to help drive the economy, which reportedly accounts for 12% of its GDP.
The French hotel giant already owns more than 50 percent of Orbis' shares, and is offering $501 million for the rest.
With visitor numbers up, global hotel companies are looking to build in Hungary's capital city.
Orbis Hotel Group has signed a franchise agreement to open a Mercure hotel in Sibiu, Romania with its local partner and investor Pritax Invest.
Orbis Hotel Group signed a management agreement to open an Ibis Styles hotel near Bucharest, Romania with Liwa Properties.
Orbis Hotel Group acquired Romania's Mercure Bucharest Unirii in Romania in a €11.35-million deal.
Orbis, the only AccorHotels brands licensor in CEE, brought the Mercure and Ibis Styles brands to Slovenia.