Warsaw, October 1st 2012
Strong Growth is predicted for Hotel Chains in the Polish Market over the next 2-3 Years. This was the conclusion of hotel expert Janusz Mitulski, Partner at Horwath HTL Poland, during a panel discussion at the Property Forum 2012, the biggest conference in the commercial real estate market in Poland. The conference which was held from 18-19 September in Warsaw, was attended by over 1,000 participants as well as more than 70 sector experts and investors.
The hotel panel was the investors’ and experts’ discussion about the Polish hospitality today and tomorrow. The session covered several topics such as the prospects for the market, new challenges and risks for investors and hotels owners.
Poland has undergone significant changes over the last few years, driven in part by the co-hosting of the European football championships with the Ukraine this year, that raised the lodging profile significantly with international developers and investors, but is also relatively undersupplied with branded international hotels compared to other more mature western European markets and this is where the panel saw an opportunity.
Mr Mitulski said “If we are talking about the next 2-3 years, our analyses clearly show that this will be a time of strong growth for hotel chains. Many investors avoid risk by working with the brands which provide reliability not only during the process of obtaining funds, but also for current facility operations in the future. We’ve also seen an increasing interest shown by investors in the hotel operators who would take over the risk management activity. Additionally, the hotel that is rented by a professional operator and operates under a hotel brand is much easier to sell to an investment fund. Fortunately there are the professional advisors on the market who are able to negotiate more favourable results for clients”.
About Horwath HTL
Horwath HTL (Hotels Tourism and Leisure) is one of the world’s pre-eminent consulting specialists in the Hotel, tourism and leisure industries, providing unequalled experience and expertise for client projects around the world through a combination of detailed local knowledge and international understanding. Horwath HTL is currently the world’s largest consulting organisation specialised in hospitality, with 50 offices in 39 countries.
Horwath HTL is a member of Crowe Horwath International, a professional association of accounting and management consulting firms founded in New York in 1915. Crowe Horwath International is currently ranked among the top ten international professional service groups with offices in close to 586 cities in 108 countries.