Sircle Hospitality Group to file IPO

Sircle IPO

Max Brown Canal District, Amsterdam [Credit: Sircle Hospitality Group]

EU: Amsterdam-based lifestyle hotel and hospitality company, Sircle Hospitality Group, will soon launch its initial public offering (IPO) backed by SMG Holding, an IPO sponsor focussed on European medium-sized businesses.

Sircle Hospitality Group will list on the Regulated Market of the Frankfurt Stock Exchange via a business merger with SMG European Recovery. The IPO is expected to result in a market capitalisation of around €230 million with a total value of the hotel portfolio of more than €400 million.

The transaction is expected to close in Q2 2024. The listed company and its shares will be renamed Sircle SE. 

Sircle intends to use the funds for expanding its presence in western European cities and the Mediterranean. Currently, Sircle oversees a portfolio of 37 boutique hotels comprising 4,000 rooms across 23 cities. The group’s brands include Sir Hotels, Max Brown Hotels, Park Centraal Hotels, and The Cover private members club. 

In addition to hotels, Sircle also oversees 35 bars and restaurants including Seven North and Miznon restaurants, as well as other food and beverage offerings managed by The Entourage Group.

Liran Wizman, founder of SHG, said: “Sircle Hospitality Group’s merger with SMG Holding marks a major milestone for us as we set to open 100 hotels and expand our F&B offerings including Seven North Restaurant and Miznon and our members’ club, The Cover. We’re excited to continue to shape the future of lifestyle hospitality.” 

Stefan Petrikovics, CEO of SMG Holding, said: “Sircle is ideally positioned in the fast-growing European tourism and lifestyle hospitality sector. With the expansion of its hotel portfolio and its focus on high-quality lifestyle concepts, Sircle is pursuing a clear strategy that impresses us. With our prepared structures for a listing, we are therefore the ideal partner to grow successfully together in the long term. We provide capital and offer secure framework conditions for access to the capital market.”

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