AccorHotels group announced on November 7th the acquisition of a 30% stake in the German chain 25hours Hotels for the sum of 35 million EUR, thus expanding into the rapidly growing market of „boutique” hotels, which compete with major brands.
25hours Hotels, which will continue to be led by CEO and co-founder Christoph Hoffmann, operates seven boutique hotels in Hamburg, Frankfurt, Berlin, Zurich and Vienna.
Another five hotels are expected to open in Zurich, Munich, Cologne, Dusseldorf and Paris over the next 2 years. Additionally, the company has expansion plans in Melbourne, Miami and Milan.
Source: Economica
Frequently Asked Questions
What is the value of AccorHotels’ investment in 25hours Hotels?
AccorHotels group paid 35 million EUR for a 30% stake in the German hotel chain.
Who will lead 25hours Hotels following the acquisition?
The company will continue to be led by CEO and co-founder Christoph Hoffmann.
What are the expansion plans for 25hours Hotels?
The chain plans to open new hotels in cities such as Munich, Paris, Melbourne, Miami, and Milan.