Networking is one of the greatest benefits of attending a conference. HOTCO provides at least eight opportunities throughout the event. Take advantage of being at the same place, at the same time with some of Central and Eastern Europe’s most influential hospitality leaders.
November 29, 2017, Elbit Imaging Ltd. announced further to its previous announcements, that its wholly owned indirect subsidiary has signed a definitive sale and purchase agreement for the sale of its entire shareholding (comprising approx. 98.2% of the outstanding share capital) in the company (the “SPV”) which owns the Radisson Hotel Complex in Bucharest, Romania, based on a property value of €169.2 million.
Orbis Hotel Group has signed a sale agreement of Sofitel Budapest Chain Bridge with Starwood Capital Group and settled down terms for the management. The purchase price for the Hotel has been agreed at the amount of c.a. EUR 75.000.000. As part of the transaction, to be completed in the coming months, Starwood Capital Group through a controlled affiliate will acquire the iconic luxury hotel of Budapest, to be continued to operate under the “Sofitel” brand.
After long years of recovering from the global recession, the Hungarian but especially the Budapest hotel market is yet again in its full speed of growth.
HOTCO was a great success, bringing together the hotel investment and development community from across the CEE region. The program format offered many high-level discussions on the major trends relevant to our industry. The best measure of success for us was the deals we have generated out of the conference.
CEE has an incredible history, which makes it a complex region culturally and from a business logics points of view. Such diversity poses challenges, hence equally tremendous opportunities for the hotel industry. HOTCO will no doubt be the event to attend in 2017 if CEE is in your strategic focus.