Worldwide: Design Hotels has reported that a formal request has been submitted by Marriott DH Holding AG to acquire the outstanding five per cent shares of the consortia.
The move would allow Marriott International to have full ownership and operation of the brand, which is currently operating as a separate public company.
Design Hotels has stated that a general meeting and shareholder approval of a reasonable cash offer is required before a decision is final.
Marriott has requested that a conclusion of a potential deal is made within three months.
A spokesperson for Marriott International explained the decision to acquire Design Hotels: “Marriott now has 95 per cent ownership of Design Hotels shares, and German law permits a company owning 90 per cent or more to initiate a process to obtain the remaining shares.”
As reported by HOTELS, a Design Hotels spokesperson said: “As the merger squeeze-out is a corporate organisational development and we do not plan changes to the way we operate the business, there is no impact to the senior leadership team.
“Our 330-plus members will remain part of our global and unrivalled community of independent, design-driven hotels that function as social hubs and spaces for purposeful experiences. Having Marriott International as the future sole owner, Design Hotels members can expect additional benefits and opportunities to obtain a greater and more selective reach and to take advantage of new programs and practices in size and scale.”
Design Hotels has been expanding its portfolio in recent months, announcing Inhabit Hotel in London and The Tuxon in Arizona as new additions.
