Leonardo Hotels has announced an agreement to acquire the Zien Group and its 12 hotels in the Netherlands from KSL Capital Partners and Garden Capital Group. The acquisition will increase Leonardo Hotels’ portfolio to 28 hotels in the Benelux region. Notable properties in the acquisition include the Eden Hotel, the Lancaster, and the Manor in Amsterdam. The Group Zien hotels have a strong family legacy, established over 75 years by the Dijkstra family. KSL Capital Partners had acquired a majority stake during the peak of the COVID-19 pandemic in December 2021, leading to substantial performance improvements under their ownership. The acquisition, which will add 1,522 rooms and 13 hotels to Leonardo’s portfolio, is expected to complete in the second quarter of 2024, subject to customary closing conditions. This strategic expansion strengthens Leonardo Hotels’ presence in major Dutch cities and aligns with their growth strategy in the Benelux region.
Hospitality, Private Equity,Netherlands, Benelux
https://contentapi.cision.com/api/v1.0/releases/20240611FR35477