HR Group, a hotel owner and manager in Central Europe based in Berlin, announces the acquisition of a lease portfolio from Accor as part of a sale & management-back agreement. The transaction includes 16 hotels under the Mövenpick brand in the Netherlands, Germany and Switzerland with a total of 3696 rooms. The portfolio includes three hotels set to open in early 2020. All 16 hotels are run by HR Group and have a management agreement with Accor.
“The acquisition of the Mövenpick hotels is an excellent addition to our portfolio. We are proud that our deep, fruitful and long-term relationship with Accor continues to evolve. HR Group will continue its strategic growth path as we look forward to an exciting new decade, ” said Ruslan Husry, CEO of HR Group.
Mövenpick Hotels & Resorts welcomes guests to 90 -plus hotels worldwide and is known for its strong brand recognition in Europe, the Middle East and Africa. As a premium hotel brand for more than 70 years, it offers superior quality and excellent food and beverage options.
The acquisition significantly increases the existing cooperation between HR Group and Accor, expanding the portfolio to 55 hotels, including planned eight hotels that have not yet opened, totaling approximately 9500 rooms and accounting for more than 350 million euros in revenue by 2020.
HRG Hotels, the manager within HR Group, plans to expand the Mövenpick brand in Central Europe by purchasing new properties or entering into lease agreements.
HR Group has invested in the quality of its hotel operations with a reformed management structure, including six professionals as Directors from different backgrounds, strengthening management with a wide range of expertise.
Several capital injections are taking place, numerous renovations and re-branding have been completed in recent years, while further remodeling plans have been implemented to optimize guest satisfaction.
