The latest transaction will add 1,522 hotel rooms to Leonardo’s portfolio. Credit: Pranav Kumar Jain / Unsplash.

Leonardo Hotels has agreed to acquire Zien Group and 12 hotels in the Netherlands from affiliates of KSL Capital Partners and its partner Garden Capital Group.  

Financial details of the deal, due to be completed in the second quarter of 2024, were not revealed. 

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Completion of the deal is contingent on the fulfilment of customary closing conditions. 

In December 2021, KSL Capital Partners bought a majority stake in Zien Group. 

KSL partner Martin Edsinger said: “We are excited to hand the reins of Zien Group to Fattal Group and Leonardo Hotels as a strategic long-term owner.  

“We have long recognised the strength of the Netherlands hospitality market.” 

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Zien Group’s portfolio comprises five hotels in Amsterdam and several others in cities, including Rotterdam, The Hague, Eindhoven, Groningen, and Maastricht.  

The latest acquisition underlines Leonardo Hotels Benelux’s growth strategy, expanding its portfolio in the region to 28 properties. 

It will add 1,522 hotel rooms, bringing Leonardo’s total number of rooms in the Netherlands and Belgium to 4,161.  

This deal will also include the transfer of hotels in Amsterdam such as the Eden Hotel, The Lancaster Hotel, and The Manor. 

Leonardo Hotels UK, Ireland, Benelux, Spain, and Portugal CEO Ronen Nissenbaum said: “We are delighted with this portfolio deal in the Netherlands, which increases our number of hotels in the Benelux region to 28.  

“Our group has seen remarkable growth in recent years, now comprising over 300 hotels across 21 countries, with further acquisitions to be announced in the coming weeks.” 

Last month, Leonardo Hotels purchased the five-star Hotel Gotham in Manchester, UK, for an undisclosed amount.