Nearly 2% of the respondents predict a constant improvement of the market situation this year in spite of the fact that still a year ago up to 37% of the respondents expected significant increases in 2010. These worse-than -expected results heighten anxieties among half of the hoteliers (55%) that prices of accommodation will come back to levels from before the crisis only after 2012.

For Piper 2010 European Hospitality Outlook Contango (report on prospects of the European hotel trade), presented in March at the International Forum of Hotel Investments, also showed moderate perspectives in new construction investments which during the recession surrendered to radical restrictions.

Still, 36 percent of the respondents is expecting the increase of the number of new investments, further 32 percent predicts their fall. According to expectations of 80 percent of the respondents large hotel networks will further concentrate at transforming smaller ones, whereas the examined two third (66 percent) expects that large networks in 2010 will increase their participation in the market.

Then Krzyszof Wiater, the managing partner of the Polish office of the DLA Piper legal chamber, said: "In the context of the presented report, it is worthwhile paying attention that Polish hotel market, compared to the global one, is looking ahead with a little wider optimism. International events planned in our country - among others Euro 2012 - evoke moderate enthusiasm. They will constitute a key impulse for the sector and will contribute both to the increase of the volume of investments as well as revenues. However one should remember that nobody builds the strategy of development based on one event. Therefore also at the Polish market we will observe trends and tendencies similar to the global ones.

Source:  Property Journal  4-5/2010