Centro Holding GmbH & Co. KG (“Centro Hotel Group”), a Germany-based hotel operator, has sold a portfolio of 15 hotels to Whitbread Plc (“Whitbread”), owner of leading hotel chain Premier Inn, with over 1,200 hotels across the UK. MCF acted as adviser to Centro Hotel Group and helped facilitate a successful transaction in a challenging market environment.
MCF advises Centro Hotel Group on the sale of a selected hotel portfolio to Whitbread Plc
MCF acted as adviser to Centro Hotel Group and helped facilitate a successful transaction in a challenging market environment.
Whitbread is the UK’s largest operator of hotels and restaurants, with a portfolio of some of the UK’s most successful hospitality brands. The acquisition of Centro Hotel Group’s 15 German hotels was structured as an asset deal, with an expected total investment (purchase price plus investment required to refurbish and rebrand the hotels) of EUR 40-50m. The transaction is an important step in Whitbread’s existing international strategy, aiming to replicate the Premier Inn’s UK success story and accelerate growth in a key strategic market. Whitbread will continue to invest in growing its German pipeline, both through organic and inorganic investments.
The transaction is subject to competition authority approval in Germany and completion is estimated to take place in December 2020.
Centro Hotel Group is one of Germany’s fastest growing hotel groups, currently operating over 40 hotels throughout Germany and Austria. Centro Hotel Group consists of the Centro Hotels, FourSide and Boutique brands, as well as the budget brand NinetyNine Hotels.
About Whitbread Plc
Whitbread Plc is the UK’s largest operator of hotels and restaurants with some of the leading UK hospitality brands. Established in 1742, Whitbread today is the owner of the UK’s favourite hotel chain, Premier Inn, as well as restaurant brands, Beefeater, Brewers Fayre, Table Table and Bar + Block. The company employs over 35,000 people in over 1,200 Premier Inn hotels and restaurants across the UK, serving over five million customers every month.