HR GROUP ACQUIRES PORTFOLIO OF FIVE GERMAN HOTELS
The German owner-operator HR Group has announced the acquisition of five regional German hotels from various owners, for a combined price of €100 million. The 869-room portfolio is composed of the Dorint Parkhotel Bad Neuenahr (238 rooms), the Dorint Hotel Frankfurt/Sulzbach (282 rooms), the Arcadia Hotel Hanover (120 rooms), the Arcadia Hotel Bottrop (102 rooms) and the Best Western Hotel des Nordens Flensburg (127 rooms).
As part of their ongoing partnership with Wyndham Hotels & Resorts, HR Group plans to rebrand the two Arcadia hotels in Hanover and Bottrop to the Ramada brand. The two Dorint hotels, sold by the owner of the Dorint brand Honestis AG, will continue to be operated by the HR Group under a Dorint franchise agreement.