Poland’s hotel segment sees record investment level in 2019
The commercial real estate sector in Poland reported record levels in 2019, with the hotel segment seeing the biggest growth, according to Walter Herz. The value of purchase/sale contracts that were concluded last year in all segments of the real estate market in Poland totaled €7.7bn, up from €7.2bn record reported in 2018. “Last year we saw a clear revival in the hotel segment, which carried out transactions worth approximately €290m. The result of the first half of 2019 — €150m — was already higher than in the entire 2018, when the value of transactions totaled €120m. This more than double result shows that this asset class has become more and more attractive to global investors, although their share in the entire transaction volume is still rather small,” said Bartłomiej Zagrodnik, managing partner and CEO of Walter Herz. The largest transactions made in the hotel segment included Patron Capital’s purchase of Sheraton Warsaw Hotel from Benson Elliot and Walton Street as well as Union Investment’s purchase of Holiday Inn Gdańsk City Centre and the Radisson Collection hotel in Warsaw, according to Walter Herz.