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Germany: Accor has paid £31.2 million for a 30 per cent stake in 25hours Hotels
Germany: Accor has paid £31.2 million for a 30 per cent stake in 25hours Hotels.
25hours Hotels, which will continue to be run by chief executive and co-founder Christoph Hoffmann, operates seven boutique hotels in Hamburg, Frankfurt, Berlin, Zurich and Vienna.
Five more are scheduled to open in Zurich, Munich, Cologne, Dusseldorf and Paris in the next two years, while it also has expansion plans in Melbourne, Miami and Milan.
“Through this partnership, AccorHotels is investing further in one of the fastest growing segments in the industry and enriching its offer to achieve scale in this segment,” said Accor chief executive Sebastien Bazin.
25hours Hotels will join fellow boutique hotel brand Mama Shelter in the Accor stable, along with the recently launched Jo & Joe brand.
accorhotels.com
