Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Orbis, the hotel chain operator, wants to open more economy class hotels while, at the same time, reducing employment. Orbis currently operates 67 hotels, among them eight Ibises. The economy class hotels bring the company more profits than higher class hotels, therefore, Orbis will increase the number of Ibis hotels to 17. It will also open 23 low price (one star) hotels called ‘Etap’. Up to 2009, all hotels called ‘Orbis’ will be renamed, as the company wants to reserve this name for its own travel agency and transport company. Additionally, Orbis wants to create five administration and information centres that will service the hotels.
Eurofound (2005), Orbis, Internal restructuring in Poland, factsheet number 61268, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/61268.