Poland's Orbis approves $176M Accor hotel buy

Reuters reports that the supervisory board of Polish hotel group, Orbis, has approved the purchase of 46 hotels in central Europe for $176.5 million from Orbis' French owner Accor. Currently, the Polish group runs 68 hotels in 32 cities in Poland, Lithuania and Latvia.

The majority of the hotels are located in the capital cities of Hungary, the Czech Republic, Romania and Poland.

"Orbis will be the sole operator of hotels working under the Accor brands in those countries and will strengthen its position as a leader of hotel operator in the region," Orbis said in a statement.

Virtual Roundtable

Post COVID-19: The New Guest Experience

Join Hotel Management’s Elaine Simon for our latest roundtable—Post COVID-19: The New Guest Experience. The experts on the panel will share how to inspire guest confidence that hotels are safe and clean and how to win back guest business.

Orbis will take over 38 existing hotels and eight planned ones. The company could reportedly finance the purchase with loans and a potential bond issue.


Suggested Articles

The two locally owned resorts join the Benchmark Resorts & Hotels brand as a result of the deal.

The combined company now will own and operate a portfolio of 40 hotels totaling more than 5,000 guestrooms.

The global crisis will provide significant merger and acquisition opportunities for hospitality companies willing to take the risk.