CMS advises Hirmer Group on successful acquisition of Travel Charme Hotels & Resorts
The Hirmer Group has acquired Travel Charme Hotels & Resorts, one the leading resort and holiday hotel chains in Germany and Austria. The transaction sees the Munich-based family-owned business extending its existing fashion and real estate portfolio to include hotels. An international CMS team advised the Hirmer Group on all legal aspects of the transaction. The parties agreed not to disclose details of the purchase price.
The transaction involves the Hirmer Group acquiring a total of nine hotel operating companies on the Baltic Sea and in the Harz and Alpine regions, along with a service company located in Berlin which carries out central functions for all hotels belonging to Travel Charme Hotels & Resorts. The vender of the companies is Travel Charme Hotels & Resorts AG, which is based in Zurich.
An international CMS team headed by lead partner Jochen Lux of CMS Germany provided the Hirmer Group with comprehensive legal advice on the transaction. In Austria, CMS partner Gregor Famira, who specializes in the hotel and leisure industry, was in charge.
The Munich-based Hirmer Group is a family-run corporate group operating in the textile retail and real estate sectors in Germany and Austria. The transaction is aimed at achieving synergy effects across the entire business, particularly in the area of real estate project development. The corporate group employs some 1,000 people and is best known for its focus on men’s fashion. The group manages a real estate portfolio comprising 120,000 square metres across Germany. The Hirmer Group previously gained exposure to the hotel industry through project developments for Motel One in Munich and Bonn as well as the arcona group, including in Leipzig and Munich, constructing and running the Campo Bahia hotel used by the German squad during the World Cup in Brazil and the recent acquisition of Hotel Elephant in Weimar.
The Travel Charme Hotels & Resorts Group runs individual holiday hotels with four or five-star ratings in Germany and Austria. The group was established in 1993 following the acquisition of assets belonging to the state-owned East Germany travel agencies. The company’s management team is also changing as a result of the transaction. The new managing director will be Matthias Brockmann, who has already successfully worked with the Hirmer Group on project developments.
CMS advises eight of the ten largest hotel chains in Europe and provides legal advice on some of the most important hotel and leisure projects in the CEE region today. CMS is a leading advisor of the hotel industry in Europe, drawing on many years of profound experience in takeovers and sales in this sector.
Gregor Famira, Partner, Hotels & Leisure
Martin Trapichler, Attorney-at-Law, Project Development
Oliver Werner, Attorney-at-Law
Ulrich Weinstich, Associate, both Corporate
Dr Jochen Lux, Lead Partner
Dr Christoph Löffler, Associate
Peter Ollesch, Associate, all Corporate/M&A
Dr Andreas Otto, Partner
Dr Benjamin Schirmer, Counsel
Franziska Krokutsch, Senior Associate
Filip Niemiec, Senior Associate, all Hotels & Leisure
Jesko Nobiling, Partner, Tax
Axel Dippmann, Partner
Dr Florian Lörsch, Senior Associate, both Finance
Dr Anja Schöder, Senior Associate
Rafael Schiwietz, Associate, both Employment & Pensions
Dr Heralt Hug, Partner
Stefan Schreiber, Senior Associate, both Intellectual Property/IT
Dr Rolf Hempel, Partner
Martin Cholewa, Senior Associate, both Merger Control
Dietmar Zischg, Partner, Corporate/Real Estate
Francesco Sabatino, Counsel, Real Estate
You can find a photo of Gregor Famira for free download here.