HR Group of Germany Buys 5 Hotels for €100m
Date: March 2018
Location: Frankfurt – Sulzbach, Bad Neuenahr, Hannover, Bottrop, Flensburg
Name: Dorint (2), Arcadia (2) and Best Western.. The purchase involves the Dorint Hotel Main-Taunus-Zentrum in Sulzbach (Hesse), the Dorint Parkhotel Bad Neuenahr, the Arcadia Hotels in Hanover and Bottrop and the Best Western Hotel Flensburg.
Arcadia Hotel Bottrop
No. of Keys: 869
Seller: The Dorint hotels were previously held in Ebertz & Partner funds; seller of the hotel in Harrislee is the Fleggard Group, in Denmark. The Arcadia hotels will continue to be operated under the Ramada name, as per a new agreement between Arcadia and Wyndham.
Buyer: HR Group, headed up by Ruslan Husry, Founder & MD. The HR portfolio now holds 34 hotels with 5,000 rooms in Germany, the Netherlands, and Spain.
In the autumn of 2017, the 5-star Boutique Hotel Portals Hills in Mallorca and the Arcadia Hotel München Airport were acquired by HR.
This transaction was supported by JLL, Engel und Völkers Investment Consulting, KPMG, Treugast, Hogan Lovells, and Dekra, and financed by Caerus Debt Investment.
Price: €100m
Price per Key: €115,075
THPT Comment: As reported previously HR Group is becoming a major player in Germany.
First Seen: Thomas Daily