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April 11, 2013

Leonardo Hotels completes acquisition of 20 QMH hotels in Germany

Leonardo Hotels, the European division of the Israeli hotel firm Fattal Hotels, has completed the acquisition of 20 former hotels of Queens Moat Houses Holding Germany (QMH).

By admin-demo

Leonardo Hotels, the European division of the Israeli hotel firm Fattal Hotels, has completed the acquisition of 20 former hotels of Queens Moat Houses Holding Germany (QMH).

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The acquisition, which began in April 2013, saw Leonardo taking over 20 QMH hotels including 15 Holiday Inn Hotels, four Best Western Hotels and one Queens Hotel, and has currently put them into operation.

"We want to continue to grow and continuously negotiate projects in major European cities."

Located in Berlin, Munich, Düsseldorf, Frankfurt, Cologne, Hamburg, Heidelberg, Wolfsburg, Mannheim, Hanover, Baden-Baden, Aachen, Mönchengladbach and Karlsruhe cities, the hotels feature over 3,600 rooms, 28 bars, 29 restaurants and 154 conference rooms with total space of 9,675m².

With the acquisition completed, the company has rebranded 13 QMH hotels into the Leonardo Hotel brand, while retaining seven hotels as the Holiday Inn brand.

Fattal Hotels plans to invest further in the new hotel portfolio.

Leonardo Hotels interior designer Andreas Neudahm will be handling the reconstruction work of all the new hotels by using the latest, individual and premium design styles.

Fattal Hotels/Leonardo Hotels CEO David Fattal said, "We want to continue to grow and continuously negotiate projects in major European cities."

With the addition of the new properties, Fattal Hotels now owns and operates more than 16,000 rooms in 84 hotels, including 44 hotels in 20 German cities, 31 hotels in Israel, and nine hotels in the rest of Europe, including Austria, Switzerland, Belgium and Hungary.

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What’s missing from your IPO industry assessment?

IPO activity all but stopped in 2020, as the investment community grew wary of the effects of COVID-19 on economies. No matter how deserving a business was of flotation, momentum was halted by concerns of when a ‘new normal’ of working patterns and trade would set in. Recently, sentiment has changed. Flotations picked up again during the second half of 2021, and now in 2022 the mood is decidedly optimistic. Business leaders have their eyes on fast rebounding economies, buoyant market indices and the opportunity once again to take their businesses public. As a result, global IPOs are expected to hit back this year. With GlobalData’s new whitepaper, ‘IPOs in Consumer and Retail: 5 must-include elements for your prospectus industry report’, you can explore exactly what is needed in the essential literature. GlobalData’s focus lies in the critical areas to get right:
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