HR Group acquires Mövenpick lease-portfolio from Accor
The transaction entails 16 hotels under the Mövenpick brand in Germany, Switzerland and the Netherlands totaling 3,696 rooms. The portfolio includes three pipeline properties which will open early 2020. All 16 hotels are operated by the HR Group and will have a long-term management agreement with Accor.
“The acquisition of the Mövenpick hotels is an excellent addition to our portfolio. We are proud that our in-depth, fruitful and long-term relationship with Accor continues to evolve. HR Group will pursue 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 in over 90 hotels worldwide and is recognized for a strong brand awareness in Europe, Middle East and Africa. The premium hotel brand is known for its supreme quality and more than 70 years of food & beverage excellence.
The acquisition allows for a significant increase in an already very meaningful partnership between HR Group and Accor, increasing the portfolio to 55 hotels, including a pipeline of eight properties, totaling ca. 9,500 rooms and accounting for over 350 Million Euros revenue in 2020.
HRG Hotels, the hotel operator within the HR Group, is keen to expand the Mövenpick brand in Central Europe through acquisition of new real estate or entering into lease agreements.
The HR Group has invested thoroughly in the quality of its hotel operations with a reformed managing director structure, including six professionals from diverse backgrounds, deliberately strengthening the leadership with a broad expertise perspective.
Capital investments in hotel properties are ongoing, numerous renovations and re-brandings have been finalized throughout the past years, while further remodeling plans are in place, in order to optimize guest satisfaction.
With the acquisition of this 16-hotel Mövenpick portfolio, the HR Group shows its strategic growth focus, with a promising future ahead.
Biss PR & Communications
Roaya El Tahwy & Natalie Hurthe
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