WSEInfoSpace - September 23, 2010
Listed hotel operator Orbis wants to carry out sale-leaseback deals on over half of its hotels within the next 4-5 years, CFO Marcin Szewczykowski told reporters.
"In the period of up to 4-5 years over half of the buildings in which we have hotels will stop being our property," Szewczykowski said. "We want to carry out sale-leaseback deals on those properties."
At end-H1 the value of Orbis fixed assets stood at PLN 2 bln ($681 million) but this sum does not reflect the market value, Szewczykowski added.
Currently Orbis has 62 hotels in Poland and Lithuania.
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