The Netherlands: Leonardo Lodges, owned by Fattal Resort Group, has entered into an settlement to accumulate the Zien Group and its 12 motels within the Netherlands from KSL Capital Companions and Backyard Capital Group.
Non-public fairness agency KSL took a majority stake in Eden Lodges in 2021, with the Dijkstra household (which controls Backyard Capital Group) sustaining a minority. The next 12 months, Eden created a mum or dad firm Zien Group.
By means of the transaction, Leonardo will add 1,522 resort rooms to its portfolio, bringing its complete variety of properties within the Benelux area to twenty-eight.
The acquired platform consists of 5 motels in Amsterdam similar to Eden Resort, The Lancaster Resort, and The Manor, in addition to motels in Rotterdam, The Hague, Eindhoven, Groningen, and Maastricht.
Man Vardi and Yaniv Amzaleg, M&A administrators of Fattal and managing administrators of Fattal European Partnerships, stated: “We’re delighted to have been awarded this vital mandate from KSL, which displays very effectively on our capacity to assist offers of this nature – notably in a extremely aggressive course of. These new motels will profit from the synergies of being a part of a a lot bigger hospitality group, offering our visitors with entry to a strong portfolio of motels in an more and more enticing hospitality sector.
“Moreover, our traders can look ahead to having robust returns from their investments as we proceed to develop. By focusing on properties that align with Leonardo’s requirements of excellence, the partnership seeks to curate a set of industry-leading motels.”
Alexander Kluit, managing director of Leonardo Lodges Benelux, welcomed the deal: “Zien’s motels align seamlessly with Leonardo Lodges’ imaginative and prescient of welcoming visitors to distinctive, typically metropolis centre areas. We acknowledge many similarities within the passionate administration of those motels and look ahead to enhancing our model alongside our new colleagues.”
Martin Edsinger, accomplice at KSL, stated: “We’re excited at hand the reins of Zien Group to Fattal Group and Leonardo Lodges as a strategic long-term proprietor. Now we have lengthy acknowledged the energy of the Netherlands hospitality market.”
Raphael Bihler, SVP at KSL, added: “It has been our honour to be a part of the storied historical past of Zien Group and its iconic properties. We’re assured that Leonardo Lodges will allow a brand new chapter of continued development for the portfolio as half of a bigger group.”
The transaction is anticipated to finish in Q3 2024. Phrases of the deal haven’t been disclosed.
Lower than two weeks in the past, Leonardo Lodges introduced it had acquired the Resort Gotham Manchester.
