HR Group deepens partnership with Pandox AB
HR Group sells seven hotels in Germany with a total of 1,532 rooms to Pandox AB from Sweden as part of a sale & lease back. As part of the transaction, long-term leases were also agreed, on the basis of which the HR Group will continue to operate the hotels.
"The transaction is another important milestone in the successful growth history of HR Group. We look forward to continuing to operate and develop all hotels together with our teams," said Ruslan Husry, CEO of HR Group.
The partnership with Pandox AB includes a joint investment program of over €20 million. In addition to modernizing the existing rooms, bathrooms and public areas, the investments also serve to expand the number of hotel rooms in these buildings.
The transaction supports HR Group's comprehensive growth strategy. In the franchise sector, the Berlin-based company is collaborating with well-known brands such as ACCOR, Wyndham and Dorint, thus paving the way for further growth as the leading white label hotel operator in Central Europe.
Through the sale and lease back of a total of 12 hotel properties, HR Group has realized a transaction volume of almost 450 million euros this year. HR Group is excellently positioned for further expansion as a hotel owner and operator in the future.
About HR Group
HR Group is one of the leading hotel operating companies in German-speaking countries. The Berlin-based company has been successfully acquiring and operating hotel properties for ten years. HR Group relies on successful cooperation with established franchise partners, including AccorHotels, Wyndham Hotels & Resorts, Dorint Hotels & Resorts, Hyatt, Lindner Hotels & Resorts and Deutsche Hospitality. With 34 hotels and 4 more hotels about to open and a total of nearly 5,800 rooms the hotel group is strongly represented on the market and has consistently over performed in terms of turnover over past years. Comprehensive knowledge of the market, a pronounced knowledge of real estate and professional management structures form the basis for success.
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Roaya El Tahwy & Natalie Hurthe
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