Leonardo Hotels Acquires Zien Group, Expanding Its Presence in the Netherlands

Leonardo Hotels Acquires Zien Group, Expanding Its Presence in the Netherlands

Leonardo Hotels acquires Zien Group, adding 12 hotels in the Netherlands, marking a significant growth in the Benelux region.

Leonardo Hotels

Amsterdam – In a strategic move to expand its footprint in the Benelux region, Leonardo Hotels announced the acquisition of Zien Group and its 12 hotels in the Netherlands.

The purchase agreement was made with KSL Capital Partners, LLC (KSL) and Garden Capital Group subsidiaries.

The transaction, expected to close in the second quarter of 2024, will see Leonardo Hotels adding significant value to its portfolio.

Key Highlights of the Acquisition

  • Expansion Impact: Leonardo Hotels’ portfolio in the Benelux region will now comprise 28 hotels, positioning the chain as one of the leading hotel operators in the area.
  • Hotel Locations: The acquisition includes prime properties in major Dutch cities such as Amsterdam, Rotterdam, The Hague, Eindhoven, Groningen, and Maastricht.
  • Room Capacity: This deal adds 1,522 rooms to Leonardo Hotels, bringing the total number of rooms in the Netherlands and Belgium to 4,161.

A Significant Investment Milestone

The sale represents a successful investment for KSL and Garden Capital Group and highlights Leonardo Hotels’ growth strategy in the region.

Notably, the Zien Group’s hotel portfolio was meticulously curated by the Dijkstra family over 75 years, with KSL acquiring a majority stake during the height of the COVID-19 pandemic in December 2021.

CEO Billy Skelli-Cohen spearheaded renovations and operational improvements, leading to performance exceeding pre-Covid metrics.

This robust foundation sets a promising stage for Leonardo Hotels to build upon.

Key PersonnelTitle
Billy Skelli-CohenCEO, Zien Group
Guy VardiM&A Director, Fattal and MD, Fattal European Partnerships
Yaniv AmzalegM&A Director, Fattal
Alexander KluitManaging Director, Leonardo Hotels Benelux
Ronen NissenbaumCEO, Leonardo Hotels (UK, Ireland, Benelux, Spain, Portugal)
Martin EdsingerPartner, KSL
Raphael BihlerSenior Vice President, KSL

Strategic Synergies and Future Prospects

Guy Vardi and Yaniv Amzaleg expressed enthusiasm about the acquisition, emphasizing the strategic fit and potential synergy:

“We are very excited to have been given this important mandate by KSL. This demonstrates our ability to manage these deals, especially in a highly competitive process,” said Vardi.

Alexander Kluit, Managing Director of Leonardo Hotels Benelux, highlighted the alignment of Zien’s hotels with Leonardo’s vision.

“Zien’s hotels fit seamlessly with Leonardo Hotels’ vision to welcome guests to unique locations, often in the city’s heart. We recognize many similarities in the passionate management of these hotels and look forward to strengthening our brand with our new colleagues.”

Commitment to Growth and Excellence

Ronen Nissenbaum, CEO of Leonardo Hotels in the UK, Ireland, Benelux, Spain, and Portugal, noted the group’s remarkable growth.

“We are very pleased with this portfolio deal in the Netherlands, which brings the number of our hotels in the Benelux to 28. Our group has experienced remarkable growth in recent years and has more than 300 hotels in 21 countries, with more acquisitions to be announced in the coming weeks.”

Martin Edsinger, Partner at KSL, and Raphael Bihler, Senior Vice President at KSL, echoed the sentiment of progress and continued growth.

“We are pleased to hand over the helm of Zien Group to Fattal Group and Leonardo Hotels as strategic long-term owners,” said Edsinger.

Looking Ahead

This transaction is anticipated to be completed in the first half of the third quarter of 2024, subject to merger approval requirements and the works council advisory process.

As Leonardo Hotels integrates Zien Group’s iconic properties, the focus remains on delivering excellence and expanding its presence in the hospitality industry.

This acquisition marks a new chapter of growth and opportunity, promising enhanced guest experiences and solid returns for investors.

Leonardo Hotels is poised to leverage the synergies of this acquisition, further solidifying its position as a leading hotel operator in the Benelux region and beyond.

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