UK-based hotel operator Whitbread has completed the acquisition of a portfolio of 19 hotels in Germany, from Foremost Hospitality Group.
The financial details of the acquisition, which comprises 13 open hotels and six in the pipeline, have not been disclosed.
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Following the acquisition, Whitbread now has 52 hotels, with around 9,800 rooms in more than 25 cities. This includes both open network and committed pipeline.
Whitbread CEO Alison Brittain said: “The completion of the Foremost acquisition marks an important milestone as we execute our ambitious growth plan for the Premier Inn brand in Germany.
The acquired hotels are located in prime locations, and appeal to both business and leisure customers.
Brittain continued: “We believe the German market has many of the structural growth drivers that have underpinned the success of Premier Inn in the UK, and is a market that will deliver strong returns in the future. We will continue to look for opportunities to further accelerate the growth of our business.”
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By GlobalDataWhitbread stated that the German hotel market is 30% larger than the UK and is highly fragmented with a shift from independent hotels to branded hotels.
To enable a full rebrand to Premier Inn, the company intends to close trading hotels for a short time period.
The pipeline hotels will open progressively, starting this year.
