- Acquisition of two 4-star hotels in Ludwigsburg and Neckarsulm
- Integration into the existing GHOTEL hotel portfolio while keeping the “nestor” brand name
- GHOTEL hotel & living will nearly double its revenues by 2020 thanks to this and other announced expansion steps
Munich – 2 February 2018 – The hotel operator GHOTEL hotel & living (www.ghotel.de), a subsidiary of AURELIUS Equity Opportunities SE & Co. KGaA (ISIN DE000A0JK2A8), continues to expand with the acquisition of two 4-star hotels operations in the Stuttgart metropolitan area. The sale is being conducted as part of a succession plan. The parties have agreed to keep the financial details of the transaction secret.
The two hotels in Ludwigsburg and Neckarsulm will continue to operate under the “nestor” brand name and complement the portfolio of GHOTEL hotel & living, particularly in the segment of business customers. The additions allow GHOTEL hotel & living will to extend its market positioning up to the 4-star segment. With nine hotels and apartment houses in Germany to date, the hotel group taps into the economically strong Stuttgart metropolitan area through the acquisition of these conveniently located hotels, both well positioned in their local market. Following extensive renovations in the years 2012 to 2015, both hotels feature state-of-the-art amenities. Nestor Ludwigsburg offers 179 rooms, conference areas, a restaurant as well as a wellness center. Nestor Neckarsulm is characterized by 84 rooms, a conference area and a restaurant.
“The acquisition of the two nestor hotels is an important step in our long-term growth strategy and a very attractive addition to our hotel portfolio,” said Jens Lehmann, Managing Director of GHOTEL hotel & living. “We announced the opening of three new hotels in Bochum and Düsseldorf just at the end of 2017. Together, these steps will almost double our revenues by the year 2020. And we even want to expand beyond that.”