Hotele Warszawskie "Syrena" Sp. z o.o. has a long tradition and up to mid-1997 belonged to the Capital City of Warsaw. As a result of a standardized tender procedure, 80% of the group shares were sold to Bau Holding Strabag. 15% were transferred free of charge to employees and 5% remained with the City of Warsaw. Bau Holding Strabag transferred the participation into a joint venture with Raiffeisen Centrobank. In accordance with the contractual provisions of the purchase contract, this joint venture purchased additional shares from individual employees and the City of Warsaw up to a share level of 99% in total.
Since 1997, Syrena concentrated on securing the core business of hospitality operations by investing in the quality of services, i.e. intensive training of staff and improving significantly the quality of gastronomy and above all raising the standard of the key City Center hotel properties to an international level. Following this strategy, one building outside the City Center, was converted to an office building, leased out and finally sold.
The main development activity focused on restoring the historic splendour of the Polonia Palace, one of the rare buildings which survived WWII without destruction. Since we felt committed to the historical testimony of this architectural gem, the meticulous and labourious development was carried out with the required sensitiveness and strong support from the City's conservatory office and authorities.
The future strategy continues to be based on the existing elements that are: an independent group of Polish City Center hotels directly managed by the owner and where each building will retain its own specific character.
Hotele Warszawskie „Syrena” Sp. z o.o.,Pl. Konstytucji 1, 00-647, Warsaw, Poland, registered in the Register of Entrepreneurs at the District Court for the Capital City of Warsaw, Economic Department, XII Economic Registry under the number KRS 0000052192, amount of capital 5.000.000 PLN, NIP: 526-030-05-75, REGON: 01209314
