PARIS, 9 November 2016: 25hours Hotels confirmed, Monday, AccorHotels has acquired a 30% stake in its capital, with the objective of accelerating global expansion of the 25hours brand.
AccorHotels will be a strategic partner of 25hours supporting its long-term growth., the announcement read.
25hours CEO Christoph Hoffmann commented: “Loyal partners have supported our growth in the German-speaking market for the past 10 years and we now also have the opportunity to conquer the world with a global partner. This strategic partnership represents a key milestone in our company’s history and a new adventure we are looking forward to.”
AccorHotels chairman & CEO, Sébastien Bazin added: “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. Today, we are going one step further in our strategy to be a global leader in lifestyle hotels.”
25hours Hotels currently operates seven individual hotels in Hamburg, Frankfurt, Berlin, Vienna and Zurich. A further five hotels will open in Zurich, Munich, Cologne, Düsseldorf and Paris in the next two years.
The company has been looking to expand into other European countries for some time, and is now also targeting long haul destinations.
“Designing appealing hotels with exciting concepts is not enough. A country network with local experience and expertise is also needed. Thanks to AccorHotels’ longstanding know-how and worldwide support infrastructure, this is precisely what we now have on every continent,” added Hoffmann.
25hours Hotels will continue to be run by its CEO Christoph Hoffmann and his long-time management team.
This transaction is subject to the regulatory approvals of the German and Austrian antitrust authorities.