Echo acquires hotels in Kraków and Szczecin (PL)

On July 15, 2011 Echo Investment took over the buildings of the former Cracovia hotel in Kraków and the former Neptun hotel in Szczecin.


The former Cracovia hotel.

This is a result of the sale and purchase agreement concluded on March 22, 2011 by Echo Investment and Orbis. It concerns the plot at Marszalka Ferdinanda Focha Avenue 1, where the former Cracovia hotel is situated and the area of Jana Matejki Street 18 in Szczecin, where the building of the former Neptun hotel is located.

Both hotels finished their operations on June 30, 2011. The famous Cracovia had been present at the square for nearly 50 years, however, in accordance with the concluded agreement there can be no hotel operations run in the facility.

Echo Investment has commenced analytic work and studies to determine the best directions for further work on the entire project.

A team of outstanding Kraków-based architects has been entrusted with the work: the author of the urban concept and architecture of Cracovia, Professor Witold Cêckiewicz, and architects from the DDJM architectural studio, under the direction of Marek Dunikowski. The first concepts are to be presented at the end of 2011.

The former Neptun hotel is to be demolished because the building does not meet the current technical standards. Results of specialist architectural, functional and economic analyses will determine what will be built in its place. The effect of the work on the concept of the area development will be revealed in a few months.

Source: Echo Investment SA

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