MCF advised Centro Hotel Group on the sale of 34 hotels and its management entity to HR Group
The Berlin-based HR Group continues its strong growth trajectory. As of June 1st, the takeover of 34 hotels, including 2 projects from Centro Holding, as well as Centro Hotel Management GmbH, has been completed. This business transaction thereby includes the takeover of 18 affiliated hotel companies in Germany, Austria, and the Netherlands, as well as the management platform in Hamburg. Resulting in over 2,800 rooms being integrated into the operational management of the HR Group.
The Centro hotels are strategically positioned in the midscale segment, catering to the needs of business and city travellers in major cities in Germany, the Netherlands, and Austria. Offering modern design, contemporary services, and locations that are often central. The hotels operate under the brands Centro Hotels, NinetyNine, FourSide, Boutique, and NYCE.
All employees of the hotels as well as the headquarter in Hamburg will be retained, ensuring their continued professional growth and stability. The Hamburg team will continue to manage the hotels as an independent business unit, led by Eric Buitenhuis. Buitenhuis, who was with HR Group between 2006 to 2021, is the Managing Director and fully responsible for the management of the Centro portfolio and its integration into HR Group. He is excited about this new challenge and the opportunity it presents for the employees: “It is a wonderful task to integrate the employees and hotels into the HR Group. I have accompanied the development of the HR Group for many years and have closely observed its enormous growth. I am, therefore, proud to be part of this up-and-coming company again and to play my part—together with the great employees.”
With the takeover of the Centro portfolio, HR Group‘s portfolio encompasses close to 200 hotels in Europe through either ownership, lease or management agreements.
In this transaction, MCF advised Centro Hotel Group throughout the entire transaction process from structuring the transaction to negotiating the commercial terms of the SPA.
About Centro Hotel Group
The Hamburg-based Centro Hotel Group currently operates numerous hotels throughout Germany and Europe. The Centro Hotel Group consists of the brands Centro Hotels, FourSide and Nyce as well as NinetyNine Hotels.
About HR Group
HR Group is the leading multi-brand hotel operating companies in Central Europe. The Berlin-based company has been successfully acquiring and operating hotels for more than 15 years. HR Group works with established hotel groups such as Accor, Wyndham Hotel Group, Dorint Hotels & Resorts, Hyatt, Hilton, Marriott, IHG and Deutsche Hospitality. It also acts as a reliable partner for institutional investors such as Pandox AB, DEKA, Union Investment and others.
