A serious European hotel operator has filed for insolvency proceedings, sparking issues about what lies forward for its properties all through Europe.
Revo Hospitality Group, previously HR Group, was established in 2008 and is Europe’s greatest white-label hotel operator – a third-celebration management company that operates inns on behalf of house owners with out that includes its own branding.
The firm oversees more than 260 inns throughout 12 European international locations and 146 cities. The assortment consists of many inns operating below distinguished franchise names like Hilton and ibis Styles, in addition to its own manufacturers, together with Hyperion.
Last week, the company introduced plans to restructure by way of self-administration by summer time, whereas noting that inns in two nations would stay operational.
The company acknowledged: “Around 140 companies belonging to the Revo Hospitality Group have filed for insolvency under their own management at Charlottenburg District Court. The approximately 125 hotels in Germany and Austria will continue to operate with all 5,500 employees. The proceedings will be supervised by court-appointed administrators.”
In a press release, the company clarified: “With the economic crisis, 140 companies, including the management and holding company, got into difficulties.
“In specific, elevated wage prices and the sharp rise in minimal wages, but in addition greater prices for rent, vitality and food, are weighing on the business. Above all, the sturdy growth of the Revo Hospitality Group lately led to duplicate buildings and integration issues.”
Where does Revo Hospitality Group operate hotels?
The company’s properties span Switzerland, France, the Netherlands, Czech Republic, Italy, Poland and Spain, with the majority of Revo Hospitality’s hotels situated in Germany. When announcing insolvency proceedings last week, Revo Hospitality pointed to mounting costs as a major burden on operations, according to the Express.
The hotel chain purchased its inaugural property in Leipzig, Germany, back in 2008.
By 2020, it was running 51 hotels but underwent aggressive expansion in the following years, producing €1.3 billion (approximately $1.5 billion) in yearly revenue and maintaining a workforce of around 8,300 employees throughout Europe, based on reports.
The group explained: “The acquisition of the new inns concerned appreciable prices. On the opposite hand, the quantity of in a single day stays didn’t increase as anticipated and the deliberate turnover for 2025 was not achieved.”
Specialists have been enlisted to regular operations and develop a restructuring strategy.
