In the first nine months of this year, the Orbis hotel group recorded a 6.3% increase in net sales, up to EUR 258.8 million, and a 10.4% increase in EBITDAR, up to EUR 97.8 million compared to EUR 9 million in the first nine months of 2016. Operational EBITDA amounted to EUR 86.2 million, up 21.1% compared to last year.
Orbis continues to strengthen its presence in strategic markets, entering two new markets in the third quarter – Serbia and Bosnia-Herzegovina – and adding 3 assets with 310 rooms.
Also during this period, 5 new agreements were signed for hotels that will join the group in the coming years.
Orbis continues to develop the network through its own investments, namely 6 hotels with 906 rooms – 4 new units and two renovation projects.
Orbis’s development plans for the next 3 years include 42 hotels with over 5,100 rooms.
Given the solid cash availability, Orbis is actively looking for new growth opportunities and new destinations.
By adding the Adagio brand to its portfolio – the leader in the European aparthotel market – Orbis Group expands its brand portfolio and diversifies its network development, thus entering the city-center apartment market.
Orbis owns 120 hotels and is the sole licensor for all Accor brands in 16 countries: Bosnia and Herzegovina, Bulgaria, Croatia, Czech Republic, Estonia, Hungary, Latvia, Lithuania, Macedonia, Moldova, Montenegro, Poland, Romania, Serbia, Slovakia, and Slovenia. The group has a total of 20,000 rooms. The hotels operate under the Sofitel, Pullman, M Gallery, Novotel, Mercure, ibis, ibis Styles, and ibis budget brands.
Source: Profit
Frequently Asked Questions
What was Orbis Group’s revenue growth in the first nine months of 2017?
Orbis Group recorded a 6.3% increase in net sales, reaching EUR 258.8 million during the first nine months of 2017.
Which new markets did Orbis expand into during 2017?
In the third quarter of 2017, Orbis entered the Serbian and Bosnia-Herzegovinian markets, adding three new assets to its portfolio.
What is Orbis Group’s development pipeline for the next three years?
The group plans to develop 42 hotels with over 5,100 rooms over the next three years through both own investments and new agreements.