CMS advises Centro Hotel Group on the sale of a hotel portfolio to HR Group
Frankfurt/Main – The Hamburg-based Centro Hotel Group has sold a portfolio comprising 34 hotels to the Berlin-based HR Group (HRG). The transaction has been completed as of June 1 and comprises 18 affiliated hotel companies with a total of more than 2,800 rooms in Germany, Austria and the Netherlands as well as the management platform of the hotels, which is based in Hamburg. Centro Hotels is positioned in the midscale segment and operates under the brands Centro Hotels, NinetyNine, FourSide, Boutique and NYCE. The focus of its range of services is on business and city breaks in major cities.
All employees of the hotels and the headquarters in Hamburg will be taken over. The Hamburg team will continue to manage the hotels as an independent business unit.
A CMS team headed by lead partner Dr Peter Polke provided comprehensive legal advice to Centro Hotel Group on this transaction.
Centro Hotel Group operates several hotels throughout Germany and Europe. One strategic focus is to implement high quality standards in product and design in combination with excellent locations and attractive prices.
Press Contact
presse@cms-hs.com
