Wizman’s Sircle portfolio merges; plans IPO and significant growth

LUXEMBOURG/AMSTERDAM – Liran Wizman’s high-profile, European lifestyle hotel business Sircle Hospitality Group has merged with listed SMG European Recovery Group with the intent to itself list on the Frankfurt Stock Exchange in 2Q24 and grow the existing hotel portfolio by some 100 properties in major Western European cities and the Mediterranean region.

SMG parent company SMG Holding will acts as IPO sponsor and investor for the IPO of Sircle Hospitality Group, which has 37 hotels (4,000 rooms) in 23 cities, which are complemented by 35 bars and restaurants. Among Sircle brands are Sir Hotels, Max Brown, The Cover private members’ club and The Entourage Group.

The current value of the hotel portfolio is estimated at more than €400 million. Following the listing, the company will be renamed Sircle SE and have an expected market capitalization of around €250 million.

Liran Wizman

SMG Holding is providing both capital and the listing vehicle for Sircle SE and will remain a shareholder in the company after the listing. SMG stated that it is committed to a long-term partnership and SMG Founder Dr. Stefan Petrikovics will become deputy chairman of the company's board.

With fresh capital in hand, Sircle’s strategy entails expanding new and established brands like Sir Hotels and Max Brown Hotels and adding more bookable rooms, while also expanding its F&B offerings that include Seven North Restaurant and Miznon in collaboration with celebrated Chef Eyal Shani and its members' club, The Cover.

"Sircle Hospitality Group’s merger with SMG European Recovery marks a milestone as we become Europe’s premier boutique hospitality group," Wizman said. "With plans to open 100 hotels and the continuous expansion of our F&B offerings including Seven North Restaurant and Miznon in collaboration with celebrated chef Eyal Shani and our members’ club, The Cover, we’re set to raise standards and shape the future of lifestyle hospitality.” 

Wizman started his hotel investment career in 2003 by founding GCH Hotel Group. He is also the co-founder/co-owner of Sircle Collection and of The Entourage Group. Currently, approximately 75% of the group’s portfolio is concentrated in Germany, the Netherlands, and Austria. In 2023, sales grew by 25% to €200 million.

SMG Holding is an IPO sponsor and investor specializing in the European mid-market. Its aim is to offer growth companies simple and predictable access to the capital market. The SMG Holding team has experience from over 50 capital market transactions with a volume of more than €22 billion.