Coffee with Craig Show – daily CRE news covering the CEE region, with Publisher Craig Smith and Winston Norman, Editor and Chief of EuropaProperty.com.
Accelerated recovery for Prague’s hotel market
The Prague hotel market’s latest performance indicators show a significant increase in 2023, Cushman & Wakefield reports.
In December 2023 occupancy returned to the level of December 2019 with 79 percent. The average daily rate was €110 in 2023, 22 percent higher than the year before. The investment transactions volume grew by 68 percent year on year, reaching €137 million, and additional major deals are planned for 2024. The Prague hotel market proves its resilience and attractiveness.
Sevda Cadir, Senior Hospitality Consultant, CEE & SEE, Cushman & Wakefield says: “Despite operational challenges leading to increasing costs, the revenues allowed Prague full-service branded properties to record an average gross operational profit margin at 49 percent of total revenue, ranking 3rd highest within the major European markets, and outperforming the key CEE capitals and Vienna.”
Panattoni starts construction of new Trilux factory in Poland
The first Central and Eastern European factory for the Trilux Group, a global lighting supplier, is being built in Świdnik by Panattoni. The 23,000 sqm plant is an important element in Trilux’s sustainability strategy, it meets BREEAM certification criteria.
Hubertus Volmert, CEO of the Trilux Group, and adds, “Our goal is to consolidate, but also to further develop our sales and strengthen our position in the extremely fast-growing markets of Central and Eastern Europe”.
Marek Foryński, Managing Director, Panattoni BTS, points out: “Selecting Świdnik confirms both the huge potential of this city and the importance of Poland for the growth of business in the CEE region.”
The TRILUX plant will be located near important transportation hubs and the S12 and S17 roads, allowing rapid distribution throughout the country and the entire CEE region. An additional advantage of the location is its proximity to Lublin Airport.
Electro Cable Group enters Poland with lease at CTPark Zabrze
CTP has completed a 10.5-year lease for 11,800 sqm at CTPark Zabrze in Poland to Electro Cable Group. This is the first investment in Poland by Electro Cable Group, the largest Ukrainian producer and exporter of power, control, and data cables.
Boiko Yevhen, CFO at Electro Cable Group, said: “Poland is a great country with a growing local economy, while the geographical location of CTPark Zabrze fits our needs to be closer to our main markets of supply: Austria, Germany, Hungary, Finland.”
Bogi Gabrovic, Deputy Country Head at CTP Poland, commented: “Companies with an international reach are increasingly choosing this location for their first headquarters in Poland due to its top-notch performance and extremely favourable location.”
Prologis to build 11,500 sqm BTS for InPost in Ruda Śląska
InPost has entrusted Prologis with the construction of a Build-To-Suit tailored warehouse and office facility with an area of 11,500 sqm in Prologis Park Ruda Śląska. InPost will move into the new DC3 building in September 2024. The transaction was brokered by Cushman & Wakefield.
“Customers can currently use over 22,000 Paczkomat® machines in Poland, and vitally, over 98 percent of parcels are delivered the next day after posting. Such large-scale operations require operational excellence and cooperation with professional partners”, says Michał Wróbel, Director of the InPost Courier Operations Division.
Prologis Park Ruda Śląska currently contains two buildings, with a total area of 63,000 sqm. The first investment was a BTS warehouse covering 52,000 sqm for Raben. The second is a BTS warehouse with an area of 11,200 sqm for Kuehne+Nagel. The park has a total capacity for the construction of over 135,600 sqm of warehouse space.
