In the first three months of this year, the Orbis Group recorded total revenues of EUR 56.8 million, an increase of 7.9% compared to the same period of the previous year. EBITDA operating income amounted to EUR 6.1 million.
The average occupancy rate of the hotels operated by Orbis in the region was 55.8%, at an average rate of EUR 47.
At the same time, during this period, the company signed five new management agreements for hotels located in Warsaw, Budapest, and Sofia.
Also this year, seven new hotels will join the group as a result of franchise agreements already signed.
Furthermore, Orbis intends to complete its own development project, which includes the 200-room Mercure Old Town in Krakow and the 120-room ibis Gdansk, hotels that will open in the second half of 2016.
In Romania, the Orbis Group operates seven hotels with over 1,200 rooms, namely the Pullman hotel, one Novotel, four Ibis units, and one Mercure hotel.
Source: Capital
Frequently Asked Questions
What was Orbis Group’s revenue growth in Q1 2016?
Orbis Group recorded a 7.9% increase in total revenues during the first quarter of 2016, reaching EUR 56.8 million.
How many hotels does Orbis Group operate in Romania?
In Romania, the group operates seven hotels with over 1,200 rooms, including brands like Pullman, Novotel, Ibis, and Mercure.
Which new hotels are scheduled to open in late 2016?
Orbis plans to open the Mercure Old Town in Krakow and the ibis Gdansk during the second half of 2016.