Wyndham Hotel Group partners with Novum Hospitality for European expansion
Wyndham Hotel Group and German hotel management group Novum Hospitality have signed a long-term agreement to help develop new hotels across key European destinations.
The UK and Ireland are some of the countries that the pair are set to be target alongside Germany, Austria, Belgium, The Netherlands, and Poland.
Under the deal, up to 20 new hotels will be developed under the Wyndham Grand, Wyndham, Wyndham Garden, Ramada, Ramada Encore, TRYP by Wyndham, Hawthorn Suites by Wyndham, Days Inn and Super 8 brands.
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Novum Hospitality is one of Germany's largest hotel management groups with over 20,000 rooms across 160 hotels operating under the Novum Hotels, Select Hotels, and niu brands.
“Novum Hospitality has a long-standing reputation for developing high-quality hotels in urban hotspots throughout Europe, and its expansion plans perfectly complements our development objectives in this dynamic market,” said Wyndham Hotel Group central and eastern Europe development vice president Christian Michel.
“Europe offers tremendous potential and working with Novum Hospitality will enable us to further extend our footprint with more quality accommodation in a diverse range of destinations.”
Novum chief executive, David Etmenan, added: “This strategic alliance with Wyndham Hotel Group, one of the world’s largest and most diverse hotel companies, is an extraordinary growth opportunity for us.
“We are already planning a number of projects in sought-after destinations in Europe and we look forward to developing up to 20 hotels together in the future.”
Minor International edges closer to NH Hotel Group takeover with €619mn deal for HNA Group stake
Minor International in lining up the full acquisition of NH Hotel Group after purchasing an additional 25.2% stake in the Spanish company for €619mn.
Thailand-based Minor revealed its plans on Wednesday having completed a deal for the extra shareholding previously held by Chinese conglomerate HNA Group, taking its current total stake in NH Hotel Group to approximately 38%.
By moving beyond a 30% stake in the company, Minor is now eligible under Spanish law to launch a takeover bid – something it plans to do within the next few months.
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NH rejected a similar approach from rival Grupo Barcelo earlier this year however and any completion is subject to the approvals of Minor’s shareholders, the National Securities Market Commission of Spain (CNMV) and clearance by relevant anti-trust authorities.
The share purchase from HNA Group will be in two tranches of 65.85mn shares to be completed on or around 15 June and 32.94mn shares, expected to be completed in September. HNA is selling as part of a wider divestment of assets through which it hopes to complete debt repayments.
“Today we are embarking on a new era, driving investment strategy to further cement our footprint in the European hospitality industry,” said Dillip Rajakarier, CEO Minor Hotels.
“We will be able to create a network of over 540 hotels with a reach across Asia, Oceania, the Middle East, Africa and Europe, all of which are important hospitality regions around the world. The business network will allow the two companies to capitalise on our leadership positions in key growth areas, highly complementary asset and brand portfolio, technology platform and talented employees.”