Mövenpick deal successfully concluded: HR Group continues to expand with Accor lease portfolio
The transaction, which was agreed upon in December 2019 comprises 16 Mövenpick brand hotels in Germany, Switzerland and the Netherlands with a total of 3,696 rooms. Two of these hotels are currently under construction and will open in the first half of 2020. This cooperation is part of the HR Group's comprehensive expansion strategy and also marks its entry into the Swiss market.
"In the first quarter of 2020 - following the signed contract at the end of last year - we were able to implement our growth strategy with the successful closing of the Mövenpick deal. We look forward to continuing to grow as a white label operator and to deepening our partnership with Accor. We have high expectations for the forthcoming opening of the two new Mövenpick hotels in Basel and The Hague", says Ruslan Husry, CEO of HR Group.
Mövenpick Hotels & Resorts welcomes guests in over 90 hotels worldwide and enjoys a high brand awareness in Europe, the Middle East and Africa. The premium hotel brand has established itself on the market with highest quality and over 70 years of experience in the food & beverage sector.
The acquisition not only deepens an already significant partnership between the HR Group and Accor, but also generates significant growth for the hotel operating company. The acquisition brings the HR Group's portfolio to 55 properties with 9,500 rooms, six of which are currently in the pipeline. Following the latest transaction, a turnover of over 350 million euros is expected for 2020.