For the fifth consecutive year, Orbis achieved robust operational results, with a 3.8% RevPAR increase to EUR 44.6 for the entire Group. This result was achieved thanks to the significant increase in the average daily rate per room (+5.1%), which was visible in all countries in the region.
The solid operational results were reflected in a 4.1% revenue increase, up to EUR 335.7 million, and a remarkable EBITDA growth of 7.8%, reaching EUR 111.9 million.
In 2018, Orbis opened three owned hotels: ibis Vilnius Center (161 rooms), ibis Styles Warsaw Center (179 rooms), and ibis Poznań Centrum after renovation (190 rooms). Additionally, 9 hotels with over 1,000 rooms were opened under management and franchise agreements, and the company also signed another 20 new contracts (over 2,700 rooms) in the Eastern European region.
Currently, Orbis has developed a significant portfolio of 133 hotels and the strongest expansion plan the company has ever had, consisting of 47 new hotels (nearly 6,400 rooms).
“Romania is one of the most dynamic markets in Central and Eastern Europe, has one of the fastest-growing economies in Europe, and a large domestic market with increasing purchasing power. Furthermore, Romania offers exciting new destinations for both corporate guests and tourists from around the world. You have a very rich historical heritage, beautiful nature, and an amazing culture surrounding gastronomy and wines, which make Romania one of the fastest-growing destinations. With 11 hotels currently and another 19 under development, Romania is a key market for Orbis and Accor. As an investor, we reaffirmed that Romania is on our map by purchasing Mercure Bucharest Unirii for EUR 11 million in July 2018, and we are currently undergoing a renovation process to modernize this address. As an operator, the opening of ibis Styles Bucharest Erbas in 2018 and the upcoming 2019 openings of ibis Styles Bucharest Airport, Mercure Sibiu Airport, and Mercure Timisoara strengthen our leadership position in Romania. The performance of hotels in the Accor brand portfolio is solid, and we see a positive outlook for this market,” stated Emeline Sykora-Wintrebert, Area General Manager, Orbis & Accor South-Eastern Europe.
Source: AccorHotels
Frequently Asked Questions
What were Orbis’s financial results in 2018?
Orbis reported a 4.1% increase in revenue to EUR 335.7 million and a 7.8% growth in EBITDA to EUR 111.9 million.
How many hotels does Orbis have in its expansion pipeline?
Orbis has its strongest expansion plan ever, with 47 new hotels and nearly 6,400 rooms currently in development.
What is Orbis’s strategy for the Romanian market?
Romania is a key market for Orbis, with 11 existing hotels and 19 more in development, including recent acquisitions like Mercure Bucharest Unirii.