According to press release Orco acquired Parkhotel Vienna in southern Poland. The luxury 4-star hotel is situated in Beskid mountains, a touristy area and operates 113 rooms. Orco plans to build a wellness centre in the hotel to complement the ski and golf course. Orco operates its hospitality properties under a new brand MaMaisons Hotels and Apartments created by merging its hotel and extended stay hotel operations.
Our view:
Orco follows its strategy to create a hotel chain in the region. Given the fact, that no price for the hotel has been released we are waiting for more details to asses the acquisition in terms of valuations. In addition, we are waiting for more clarifications on the acquisition given under performance of Orco’s hotel business vs. its other business lines.