Central, Eastern Europe to get 242 new hotels in coming years: Rolf W. Schmidt
Photo courtesy of Donát Kékesi: www.donatkekesi.com
Addressing HOTCO event, TOPHOTELPROJECTS founder estimates additional key count of 49,583 rooms in CEE region
TOPHOTELPROJECTS Founder & CEO presented fresh figures on the hotel pipeline in Central and Eastern Europe (CEE) at HOTCO in Budapest’s Kempinski Hotel Corvinus on Jan 21.
Inside CEE development
The coming years will be eventful in Central and Eastern Europe, with a host of new hotel projects in the pipeline, according to the TOPHOTELCONSTRUCTION database.
The region, which includes countries such as Lithuania, Romania, Armenia, Bosnia and Herzegovina, Belarus, Azerbaijan, Ukraine, Albania and Macedonia, will see substantial investment over the course of the next few years, which will result in a total of 242 new hotel projects across the region, Schmidt said.
This will bring an additional key count of 49,583 guest rooms to the region, with the projects being split between luxury (98) and first-class (144) categories.
The lion’s share of the projects (88) are set to open this year, while 58 will welcome guests in 2020, 32 in 2021, five in 2022, and 59 from 2023 onwards.
Currently, a hefty percentage of the projects (44%) are in the planning stage, with 38% under construction and 10% in the pre-opening stages.
Hilton, Radisson and Holiday Inn are the biggest brands to feature in CEE, with Radisson Blu and Red, as well as Holiday Inn and Holiday Inn Express set to be some of the biggest hitters in the region.
Austria, Poland and Croatia will see some of the highest volumes of hotel openings.
There are 68 projects planned for Austria, with 22 openings in 2019 mostly situated in the capital Vienna. Poland will welcome 53 projects to give a total key count of 9,719, with 21 opening this year. Croatia will benefit from 25 hotel projects, bringing 9,842 additional rooms to the country, with six projects welcoming guests in 2019.
Germany and Russia will also see significant investment in the coming years, with 373 new projects in the German pipeline and 77 in the works in Russia.
Organised by Horwath HTL, the international hotel investment conference HOTCO takes place on Jan 21 & 22, focussing on hotel development in Central and Eastern Europe and the Caucasus.
2019 marks the third year of the event, and attendees will partake in a round of networking before settling in to listen to a great array of speakers delving deep into trends, development and opportunities in the Central and Eastern Europe region.
The conference presents global trends to help attendees interpret their impact on their local markets.
― About the Event ―
21 January 2019 | Budapest, Hungary
HOTCO is the first international hotel and resort real estate investment conference focusing solely on Central and Eastern Europe.
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Hilton, Radisson and Holiday Inn are the biggest brands to feature in CEE, with Radisson Blu and Red, as well as Holiday Inn and Holiday Inn Express set to be some of the biggest hitters in the region
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