Central hotels
on discounted rates
80 new hotels within 5 years - Warimpex in expansion // 04/04/2007
Warimpex the Austrian real estate company, nowadays registered at the London Stock Exchange AIM has entered into a joint venture contract with the french hotel management company Louvre Hotels. According to the contract the two companies would build up a low cost hotel chain in Central Europe within the next 5-7 years with an investment of about 300-500 million Euros.
At the moment the companies are waiting for governmental assents and they are planning to start the first projects in the middle of the year. Altogether 80 hotels are going to be built in Bohemia, Slovakia, Poland and Hungary, in the first turn 30 of them with an investment of about 150 million Euros.
Louvre Hotels is the second largest European hotel management chain with more than 850 hotels and 63.000 hotel rooms. The leading owner of the company is the American Starwood Capital Group.