HR Group takes over 16 Mövenpick hotels
Berlin-based HR Group is acquiring 16 Mövenpick-branded hotels from Accor under a sale and management back agreement.
The properties are located in Germany, Switzerland and the Netherlands and have a total of 3,696 rooms, according to an HR Group statement. Three properties are still under construction and are scheduled to open in early 2020. The 16 hotels will now be operated by HR Group, with a long-term management agreement with Accor, according to the statement.
HRG Hotels, the hotel operating company within the HR Group, wants to expand strongly with the Mövenpick brand in Central Europe, it continues. This is to be done with the purchase of new properties as well as through lease agreements.
The HR Group describes itself as a leading hotel owner and operator in Central Europe. The company acts as a "white label operator" and cooperates with franchise partners such as Accor, Wyndham and Hyatt. With the acquisition of Mövenpick Hotels, the group's portfolio has grown to 55 properties with a total of 9,500 rooms, of which eight hotels are currently in the pipeline. For 2020, the company expects a turnover of more than 350 million euros (approx. 382 million CHF). (ah)
