Israeli hotel company, Fattal Hotels, including a consortium of international investors has signed a binding agreement to accumulate all the share capital of the Queens Moat Houses.
Queens Moat Houses maintains a portfolio of hotels that presently contains 20 hotels, 15 of them Holiday Inns, four Best Western Hotels and one Queens Hotel.
The properties can be found in Berlin, Munich, Düsseldorf, Frankfurt, Cologne, Hamburg, Heidelberg, Wolfsburg, Hanover, Baden-Baden, Aachen, Mönchengladbach and Karlsruhe.
The portfolio comprises approximately 3,600 rooms, 28 bars and 29 restaurants in addition to 154 conference rooms with a complete area of 9,675 square meters.
“The investment is according to our expansion plans – the hotels complement our existing Leonardo chain of hotels perfectly.
“We still wish to keep growing and are negotiating further projects in major cities in Europe,” explained David Fattal, chief executive of Fattal Hotels/Leonardo Hotels.
With this new portfolio, Fattal Hotel Group grows to 85 hotels with over 16,000 rooms.
Some 54 hotels and eight,449 rooms can be found in Europe (Austria, Switzerland, Belgium, Hungary and Germany) and 31 hotels with 7,600 rooms can be found in Israel.
Following the QMH Germany portfolio acquisition, Fattal Hotels might be managing 45 hotels in 20 cities in Germany.
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