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Union on spending spree

Anna Pakulniewicz 12 February 2018

Anna Pakulniewicz

Journalist

+48 22 356 25 07
anna@eurobuildcee.com

Ania covers the Baltic states’ real estate markets, architecture and urban planning in Warsaw as well as interior design. She is also the co-founder of Eurobuild TV. Among others, she has been employed by TVN CNBC, PAP Insider, WBJ (The Observer), Poland Monthly and IMM. She graduated from the Warsaw School of Economics, majoring in international relations. She has also completed postgraduate studies in macroeconomic analysis. In addition to this, she studied Lithuanian philology

Union on spending spree
Holiday Inn Warsaw City Center has 256 rooms
POLAND Union Investment is acquiring two Holiday Inn hotels on behalf of its funds in a total investment that comes to app. EUR 80 mln.

The company has signed a preliminary purchase contract for the 240-room Holiday Inn hotel which is being built in the centre of Gdańsk at ul. Chmielna on the Spichrzów Island. The ownership of the hotel should be transferred to the investor in mid-2019. In January 2018, Union Investment also concluded the takeover of a 256-room Holiday Inn hotel on ul. Twarda in Warsaw (EUR 41 mln). The hotel was acquired for the Unilmmo: Deutschland open fund. The preliminary agreement was signed at the end of 2015. Both hotels were developed and sold by UBM and are to be managed by the InterContinental Hotels Group (IHG), the owner of the Holiday Inn brand. Holiday Inn Gdańsk City Center, which is being sold for PLN 38 mln, will also have five conference rooms with a total area of 480 sqm and an underground car park for 44 vehicles. The building is to be LEED certified with an intended rating of ‘Gold’. The Holiday Inn Warsaw City Center was officially opened on December 19th 2017. The hotel has numerous conference rooms and meeting rooms as well as a fitness studio with a view of the city from the 16th floor of the building. The building should be awarded LEED ‘Gold’ certification soon.


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