Event Hotels has acquired the Keystone Portfolio of 17 hotels across Germany, marking one of the largest investments in the European group’s 30-year history.
The hotels operate under the Ibis and Mercure brands and span a total of 2,021 rooms across cities including Bremen, Frankfurt, Cologne, Nuremberg, and Munich. The portfolio comprises 11 ibis properties and six Mercure hotels, with individual room counts ranging from 50 to 186.
The portfolio includes the 168-room Mercure Koblenz City, the largest hotel in the group, located in the tourist-heavy Rhine region. Other hotels are based in cities with high business travel and trade fair demand, such as Cologne, Munich and Frankfurt.
Legal advisory on the transaction was provided by McDermott Will and Schulte in Düsseldorf.
Anders Braks, chief executive of Event Hotels, said: “These hotels have proven their quality and – especially during the Covid-19 pandemic – the resilience of both their products and locations.
“With this acquisition, we are committed to further developing the properties with a long-term perspective, focusing on guest experience enhancements and technical infrastructure upgrades.”
According to the group, it will undertake targeted refurbishments across the newly acquired sites to support long-term operational performance and guest satisfaction.
It also described the investment as offering “attractive risk diversification, steady cash flows, and long-term value creation” across the midscale and budget segments.
Event Hotels operates over 80 properties in Europe, with brands including Pullman, Novotel and Radisson Blu.
