Deutsche Buys 51% Stake in Zleep

Main Photo: Zleep Hotel Aalborg guestroom

Date: January 2019

Location: Denmark and Sweden

Name: Zleep Hotels

No. of Keys: 10 hotels

Seller: Peter Haaber, founded in 2010 with Knud Larsen and Egon Klitgaard, all ex Scandic.

Buyer: Deutsche Hospitality has bought a 51% stake in Danish budget hotel company Zleep, adding a fifth brand to its portfolio. The move gives Deutsche ten hotels in Denmark (mostly Copenhagen) and one in Sweden, with four more in the planning stage.

The pair plan further investment to accelerate the growth of the brand. The Zleep team are also expected to help grow the presence other Deutsche hotel brands in northern Europe.

The Zleep flag joins Deutsche’s four other hotel brands: Steigenberger Hotels and Resorts, MAXX by Steigenberger, Jaz in the City and IntercityHotel. This latest acquisition launches Deutsche into the economy market and sees the company expand into Scandinavia.

Deutsche and Zleep plan to invest several million dollars in the further development of the company. The Copenhagen-based brand also offers the opportunity for Deutsche to expand in Northern Europe.

With the planned acquisition of Zleep Hotels, the portfolio of Deutsche includes nearly 150 hotels on three continents, 30 of which are in the pipeline.

THPT Comment: Great move for Deutsche.

First Seen: Boutique Design

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