Investing in condo hotels is gaining popularity in Poland

by   CIJ News iDesk III
2021-09-14   08:03
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At the construction site of Staybridge Suites, a condo hotel brand part of the Intercontinental Hotels Group, construction works have been completed and now installation works are currently underway.

Investing in condo hotels is gaining popularity in Poland thanks to the stability of the real estate market and the growing awareness of the functioning of this type of facilities on the Polish market.

Apartments belonging to the international chain of condo hotels Staybridge Suites are being built in Warsaw's Ursynów at the intersection of Pileckiego and Puławska streets. This is the 15th Staybridge Suites property in Europe. The facilities already operate in London and Saint Petersburg, as well as in the Hague.

The debut of the Staybridge Suites brand in Poland along with the opening of the facility in Warsaw is planned for next year by WIK Capital - the franchisee of the Intercontinental Hotels Group.

The structure of the building has already been completed, currently the assembly of internal installations and finishing the roof are in progress. The next stage of works will cover the façade and installation of windows.
The hotel offers 193 rooms with an area of ​​20–60 sqm. Spacious studios as well as one and two-room apartments with kitchenettes will be available.

“At Staybridge Suites, we implement many solutions designed with the comfort of our guests and residents in mind. We want our guests - in accordance with the mission of the world-renowned InterContinental Hotels Group - to feel at home while living outside their home. The spaces have been designed to create a friendly atmosphere. The facility will include a co-working zone, a restaurant, a shop and even a laundry room. The kitchens will be equipped with high-quality appliances for everyday use, the rooms will be prepared in accordance with the latest trends related to interior design. All residents will be able to use the amenities and attractions available in the four-star condo hotel category,” says Aleksander Kupcewicz, partner of WIK Capital, a company that implements Staybridge Suites on the Polish market, providing comprehensive services related to the implementation of hotel and condo hotel projects.

The condo hotel guests can take advantage of two types of lease: short-term or long-term. Staybridge Suites® is a good choice for tourists and business travelers, and for anyone planning an extended stay in the city.
The proximity of the Chopin Airport, 15 minutes' drive away, as well as popular tourist attractions, Kabacki Forest, the palace and park complex in Natolin or the famous Służewiec horse racing track is an undoubted advantage when choosing a place of stay.

Although the opening of the facility is scheduled for the fourth quarter of 2022, more than half of the apartments have already been sold.

Investors, when deciding to buy a property in a condo hotel, look for safe forms of investment. A common practice is to transfer your capital from the stock exchange or bank deposits to the real estate market, currently considered more stable in the country. Today's trends are also conducive to investing in condo hotels.
“Poles are looking for profitable and safe investments. Investing in a condohotel meets both of these conditions. The investor can count on a stable rental profit, and additionally has more comfort than when engaging in traditional apartment rental. The advantage of the condo hotel is that the owners of the apartments do not have to be involved in the day-to-day management of the apartments, the management company is responsible for the entire process of renting the property - including WIK Capital accidents. This argument convinces many who want to avoid the risk of renting on their own,” says Aleksander Kupcewicz.

“We are seeing a steady increase in the popularity of investing in condo hotels. The sales dynamics of our apartments exceeded our initial expectations. As an investor, we are convinced that this market will enjoy more and more interest, directly proportional to the growing awareness of the operation of such facilities in Poland,” adds Aleksander Kupcewicz.