Fattal Hotel Group's European brand acquires the Zien Group and its 12 hotels (1,522 rooms) in The Netherlands from affiliates of KSL Capital Partners and its partner, Garden Capital Group.
AMSTERDAM – Fattal Hotel Group has
entered into a purchase agreement to acquire the Zien Group and its 12 hotels
(1,522 rooms) in The Netherlands from affiliates of KSL Capital
Partners and its partner, Garden Capital Group, whose shareholders founded the
business. Terms were not disclosed. The transaction is scheduled to close in
the second quarter of 2024.
The hotels will sit under Fattal's Leonardo Hotels portfolio in the Benelux and increase its portfolio there to 28
hotels and bring its room count in The Netherlands and Belgium to
4,161. The deal adds five hotels in Amsterdam, including Eden Hotel, The
Lancaster Hotel, and The Manor, and several in major cities such as Rotterdam, The
Hague, Eindhoven, Groningen, and Maastricht. Globally, the Leonardo brand has more than 200 hotels in Europe, including 62 in Germany and 49 in the United Kingdom. It has another 36 hotels in Fattal's home base of Israel.
Zien Group’s portfolio was assembled by the Dijkstra family
over 75 years. KSL acquired a majority interest in the business in December
2021. Leonardo said that through targeted refurbishments and operational
initiatives under CEO Billy Skelli-Cohen, the group's performance has
steadily improved and now well surpasses pre-COVID performance.
Ronen Nissenbaum, CEO of Leonardo Hotels in UK, Ireland,
Benelux, Spain, and Portugal said, “Our group has seen
remarkable growth in recent years, now comprising over 300 hotels across 21
countries, with further acquisitions to be announced in the coming weeks."
Leonardo’s parent company Fattal Hotels owns and operates
over 300 hotels in 21 countries and across more than 120 destinations
worldwide, encompassing over 50,000 rooms.