In one of the biggest deals for the Polish hospitality market, it was announced that Warsaw’s Intercontinental hotel has sold for €103m to the German fund DekaBank – WestInvest InterSelect. “Although there are currently several hotels on sale across Poland that are of high quality and in prime locations, it will take a long time until we see another transaction of this value,” said Janusz Mitulski, partner at TPA Horwath HTL, which acted as an advisor in the transaction.
According to Mitulski, this latest transaction shows the growing interest from foreign investors active on the Polish commercial property market, which he says is good news for the country’s economy.
The Polish hospitality market could see another prime deal soon, with Orbis offloading its stake in the Mercure Kasprowy hotel for PLN 51m.
