Valuation of Accor & Orbis Hotels – Poland

“Horwath HTL conducted a cyclical valuations of selected hotels of Orbis/Accor Group.
Valuations were calculated on the basis of individual performance of the assets, coupled with wider market data and used USALI models.
The scope of the valuation included four flagship hotels of 4* and 5*, accommodating over 1200 rooms.
Completed valuations were required in accordance with the terms of bonds issues in 2015 and 2016 with a total nominal value of PLN 500 million.
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