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Fast-growing hotel business

Hotel industry in Poland is currently experiencing its best period. It is indicated by the growth rate of the market benchmarks. Investors involved in the market are intensifying their operations.

Walter Herz experts believe that the flourishing market is primarily a result of the increasing number of foreign visitors in our country, who are wealthier than the domestic tourists. An important aspect is also the development of business travels, which provide higher occupancy rates during the week. Companies investing in that real estate sector certainly cannot complain about the lack of demand.

According to Central Statistical Office data, over the past nine years the number of guests using hotel services in Poland increased by 86 per cent.

Dominik Sołtysik, member of the Orbis S.A. management board points out that despite the global economic environment, which could be considered as rather unstable, in 2016 major economies of Central and Eastern Europe, including Poland, saw, as expected,  a strong growth. - Virtually all markets on which Orbis is present are among the fastest growing economies in Europe and show an increase in the number of visitors in the hotels. In addition, the markets are also driven by the stronger domestic demand - says Dominik Sołtysik.

The condition of Polish accommodation facilities continues to improve each year. According to CSO reports, at the end of 2015 Poland had 2316 hotels, most of which were three-star facilities. Last year, 66 new facilities appeared. From less than a decade, the volume of hotels has increased in the country by almost 80 per cent. The market is dominated by medium and economy class buildings. The representation of luxurious buildings is still not very high. The recently opened hotel, located in Pałac Prymasowski in Warsaw Old Town is the 13th five-star hotel in Poland.

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