Michel will remain the owner and landlord of the sites while Achat operates them and will retain all hotel employees.
Further cooperation
The deal means that Achat is expanding its presence in new tourism and leisure destinations in Germany, including the Bavarian Forest, the Eifel mountains and Lüneburger Heath.
Ido Michel, Michel Hotel Group’s CEO, built the company since 2009 and implemented contemporary design and comfort throughout the hotels. He commented: “I look forward to this eye-level partnership and further cooperation with the Achat Hotel Group, which we plan to intensify beyond the current portfolio.” In the future, Michel intends to focus on the targeted expansion of his hotel real estate network as part of this collaboration.
Rapid growth
The 13 leased properties will join Achat’s current portfolio of 36 properties, adding 1,600 hotel rooms to the portfolio.
Taking account of a number of 2023 openings for the group’s Loginn Hotels brand, this will increase its overall network to more than 50 hotels comprising over 5,800 rooms.
Star match
Achat’s managing partner Philipp von Bodman views the new hotels as ideal additions to the firm’s portfolio, in terms of geography, performance, offers, and philosophy as a host and employer.
He said: “Our companies’ structures and shared appreciation of values, our similar offerings within the three- to four-star segment for conferences, as well as business and leisure travellers, make us a perfect fit.”
Expansion preparation
In recent years, Achat has been equipping itself for further growth under von Bodman’s leadership by creating a solid operational foundation. He detailed: “We have intensively prepared our course of expansion for several years by assembling a seasoned and dedicated team.
“They created a robust framework to achieve the following: evolve operationally, modernise our brand, and successfully shoulder such an extensive integration of existing hotels, as five new Loginn hotels are simultaneously and currently under construction. These facts underscore our ambitions to further expand with the existing hotels and newbuildings.”
Upcoming additions include the 100-key Loginn by Achat Messe-Hannover, due in Q3 this year; the 135-room Loginn by Achat Mönchengladbach will appear in the same quarter; and Loginn Hotel by Achat Koln Porz Wahn will add 102 keys to Cologne in Q3 2024.
