THAI GROUP FICO BUYS GERMAN PORTFOLIO
Thailand-based conglomerate Fico Corporation has purchased a portfolio of eight hotels across Germany (931 rooms) and one in Belgium (176 rooms) for €80 million (€72 million per room). “We are delighted to announce the latest strategic additions to Fico Group’s expanding portfolio of assets beyond our home base,” commented Fico’s chief executive, Kit Srichawla. The group’s new assets are the 70-room Days Inn Berlin West, the 94-room Days Inn Dresden, the 100-room ibis Hotel Erfurt Ost, the 104-room ibis Gelsenkirchen, the 141-room TRYP by Wyndham Bad Oldesloe, the 237-room TRYP by Wyndham Berlin City East, the 115-room TRYP by Wyndham Leipzig North, the 70-room TRYP by Wyndham Garden Bad Malente and the 176-room TRYP by Wyndham Antwerp. Fico also owns 16 hotels in Thailand and aims to expand further in Europe by acquiring 20 more hotels over the next couple of years.