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Warimpex expanding economy hotel network in Poland


2011-01-31



Warimpex, the Austrian property developer with a dual listing in Vienna and Warsaw, announced that it will start the construction of two new budget hotels in Poland in the first half of the year, as part of a plan to build a network of economy class hotels in Poland, Czech Republic and Hungary by 2015.

The new hotels will be located in Bydgoszcz (Kujawsko-Pomorskie voivodship) and Zielona Gora (Lubuskie voivodship). Meanwhile, Warimpex is eyeing potential new sites for its hotels in Poland, and expects to acquire two new land plots in the country in 2011.

In 2011 the company plans to spend €40 on capex expenditures, up from €30m in 2010.

In late 2010 Warimpex initiated the construction of two economy class hotels in Wroclaw, under Premiere Classe and Campanile brands.



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