17-08-2015

Port-Hotel has changed its name to CHOPIN AIRPORT DEVELOPMENT

The court has registered Port-Hotel’s new name. Since 13 August, the company has been operating under the name of CHOPIN AIRPORT DEVELOPMENT. The name change stems from the update of the company’s development strategy according to which the company is no longer just a hotel operator but it also the operator and administrator of the newly developed commercial real estate resources of the PPL Group.

We drafted our strategy update based on meticulous analysis of the Warsaw office real estate market, the Polish hotel market and the company’s past performance. We took into account the changing market and macroeconomic conditions. Our goal is to have the company achieve a strong position on the market, become an optimally functioning organization which is oriented toward continuous development, and increase its potential and opportunities” said Adam Strażecki, CEO of Chopin Airport Development.

The line of business of Chopin Airport Development, a member of the PPL Group, includes the development of hotel construction projects near local airports, the provision of hotel service and the organization of conferences and recreational activities. Hotel projects continue to be an important and consistent element of the company’s core operations. However, as a result of its strategy update, Chopin Airport Development will expand the scope of its business to include services related to the lease of office space. This way, the company will not only be the investor, operator and administrator of existing hotels and hotels under construction but will also build, operate and manage the Group’s newly developed commercial real estate resources.

The change of the company’s name has not affected its legal form.