SOFIA (Bulgaria), July 26 (SeeNews) – Polish-listed hotel group Orbis, operating in Central and Eastern Europe (CEE), said on Thursday, its earning before interest, taxes, depreciation and amortisation (EBITDA) rose by 4% to 48.3 million euro ($56.6 million) in the first half of 2018.
In the January-June period, the group has signed 12 new agreements for assets in six countries in the region, under which it will add 1,500 rooms to company's portfolio as of September 2018, Orbis, said in a statement.
Also in the first half of the year, Orbis opened five new franchise hotels in four countries - Slovenia, Macedonia, Hungary and Poland.
"Looking forward, I am convinced that Orbis will follow the growth path, giving its shareholders further returns. In a long-term horizon I expect several growth motors for the Company: on the one hand, enhanced organic development, thanks to operational excellence and effective cost management; and on the other hand, further network expansion through development projects and M&A activities," Gilles Clavie, CEO of Orbis said in the statement.
Orbis comprises 127 hotels and is the sole licensor of all AccorHotels brands in 16 countries including Bosnia and Herzegovina, Bulgaria, Croatia, Czech Republic, Estonia, Hungary, Latvia, Lithuania, Macedonia, Moldova, Montenegro, Poland, Romania, Serbia, Slovakia and Slovenia. It offers a total of 20,500 rooms.
The hotels operate under the brand names Sofitel, Pullman, M Gallery, Novotel, Mercure, ibis, ibis Styles and ibis budget.
($=0.8537 euro)