Deutsche Hospitality adds fifth brand to its portfolio
The operator has made a 51% investment in the economy tier Zleep Hotels
With an 51% investment in the family-run Zleep Hotels, Deutsche Hospitality has added a fifth hotel brand under its umbrella while making an entry into the economy market.
Deutsche Hospitality CEO Thomas Willms said in a statement that the brand is "the perfect complement" to the existing portfolio, and added: "Peter Haaber, the founder and CEO of Zleep Hotels, has created a remarkable success story in the past few years in establishing a well-known brand among those guests who are price-conscious but at the same time emphasise on design and quality during their hotel stay.
"With their strong presence in Scandinavia, Zleep Hotels are the ideal partner for the further growth of Deutsche Hospitality."
With the investment, the operator is expanding its position in central Europe and marking its market entry in Scandinavia. Zleep Hotels currently has 10 hotels in Denmark and one in Sweden, with four more in the planning stage.
Both parties, Deutsche Hospitality and Zleep, are set to invest a multi-digit million amount in the further development of the company. Zleep also offers the platform and the knowledge for Deutsche Hospitality to expand in Northern Europe with all brands.
Haaber will continue his work with the brand, and with the planned Zleep Hotels, the portfolio of Deutsche Hospitality currently includes almost 150 hotels on three continents - 30 of which are in the pipeline.
The four other brands in the portfolio include: Steigenberger Hotels and Resorts, Maxx by Steigenberger, Jaz in the City, and IntercityHotel.