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The Orbis group achieved a turnover of 163 million euros in the first half, up 4.8% over the same period in 2017, according to a press release.
On the basis of the results and forecasts for the coming months, Orbis expects an EBITDA of between 110 and 112 million euros for the full year
In the first half of 2018, the Group has signed 12 new active fire agreements in six countries in the region. Through these franchise and management contracts, 1,500 new rooms will join the Orbis portfolio starting in September this year. In addition, in the first half of 2018, Orbis opened five new franchised and managed hotels on the basis of previously signed agreements, adding more than 600 new rooms in a network in four countries in the region: Poland, Hungary, Slovenia and Macedonia.
The company plans to invest five hotels (more than 800 rooms in total), of which two ibis Styles Warszawa Centrum (179 rooms) and ibis Vilnius Center (164 rooms) will open in the second half of this year.
Overall, the development horizon is secured with 44 projects, representing more than 6,000 rooms
In terms of asset management, the Group has finalized the sale and management of Sofitel Budapest Chain Bridge and Novotel Szeged. In accordance with the 2018-2022 strategy and investment plan, Orbis plans to allocate the funds raised to merger and acquisition projects to increase the Orbis EBITDA and the value of the company in the future, as the acquisition of Mercure Bucharest Unirii early July.
The Orbis Hotel Group is the largest hotel chain in Poland and Central and Eastern Europe. Orbis owns 127 hotels and is the sole licensor of all AccorHotels brands in 16 countries: Bosnia and Herzegovina, Bulgaria, Croatia, Estonia, Hungary, Latvia, Lithuania, Macedonia, Moldova, Montenegro, Poland, Czech Republic, Romania, Serbia, Slovakia and Slovenia. The group has a total of 20,500 rooms. The hotels operate under the Sofitel, Pullman, M Gallery, Novotel, Mercure, ibis, ibis Styles and ibis budget brands.
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