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The Warsaw Voice » Business » November 16, 2017
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Orbis in CEE
November 16, 2017   
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Listed hospitality group Orbis eyes adding at least 42 establishments to its hotel portfolio within the upcoming three years as it is reaping the benefits of the booming hospitality market in the Central and Eastern Europe, CEO Gilles Clavie tells the daily Puls Biznesu.
The group will soon open its second hotel in Bosnia-Herzegovina, and it plans to double the size of its Romanian network, Clavie specifies. Orbis will focus on developing its new aparthotels brand Adagio, particularly in the biggest cities of the CEE region, the CEO adds.
The group will earmark ca. PLN 170 million for investments in 2018 but next year's dividend is unthreatened due to its high free cash flows, Clavie says. Orbis does feel the pressure from increasing labor shortage and rising salary expectations, and is trying to offset the impact of these factors by minor price hikes and changes to its recruitment strategy, CEO adds.
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