Polish hotel operator Orbis sees 34.7 pct growth in net profit

Newsroom 19/02/2015 | 11:52

Polish hotel group Orbis posted total revenues of EUR 169 million for 2014, up from EUR 162.9 million in 2013. Last year the company reported a 34.7 percent growth in net profit as compared to the previous year (EUR 21.3 million vs. EUR 15.8 million).

In 2014, Orbis continued its expansion by taking over 38 Accor hotels including in Romania. According to the company, the results were not impacted by the 38 hotels that Orbis has recently acquired, since the transaction was completed this year on January 7.

Orbis also continued expanding its hotel network through franchise and management contracts. With 6 new contracts signed, 6 hotels joined the Group, of which 3 in Poland and 3 in the Baltic countries.