Germany's Achat Hotel Group wll take the total number of properties in its portfolio to 50 this year after agreeing a deal to add the Michel Hotel Group, with its 13 leased properties, to its network.
The new hotels, plus planned openings this year will take the group over the milestone.
Michel Hotel Group will remain as the the owner and lessor of its 13 hotel properties.
What they said
Philipp v. Bodman, managing partner, Achat Hotel Group, said: “Our Achat Hotel Group has intensively prepared our course of expansion for several years. By assembling a seasoned and dedicated team, they created a robust framework to achieve the following: evolve operationally, modernize our brand, and successfully shoulder such an extensive integration of existing hotels, as five new Loginn hotels are simultaneously and currently under construction. These facts underscore our ambitions to further expand with the existing hotels and new buildings.”