Whitbread Announces Acquisition of Portfolio of 19 hotels in Germany
Date: February 2018
Location: Germany
Name: Premier Inn
Holiday Inn Express Hamburg City Centre
No. of Keys: 3,110
Seller: Foremost Hospitality Group GmbH, currently operating the hotels mainly as Holiday Inn Express
Buyer: Whitbread, parent company of Premier Inns. They currently have one hotel in Frankfurt, with a pipeline of 11 more, with a total of 2,610 rooms – with the Foremost deal, this gives them 31 hotels with 5,270 keys, by the end of 2020. The 13 hotels open and a further 6 in the pipeline, are all leasehold.
Price: Undisclosed
THPT Comment: With the dramatic growth of Premier Inn (started life as Travel Inn) in the UK over the past 30 years, making it the dominant force in the budget hotel sector with 750 hotels and 65,000 keys, it is good to see some real movement outside of the UK…31 hotels in Germany now – by next year how many? 100?
First Seen: Whitbread Press Release