Mergers & Acquisitions

🏨 a&o Hostels acquired Berlin-based Schulz Hotels in a €500-million growth strategy, including the 1,000-bed Schulz Berlin hotel. Schulz founders Nizar Rokbani, Oskar Kan, and Sascha Gechter join a&o's management. Founded in 2000, a&o operates 30,000 beds across Europe, hosting 2.8 million guests in 2024. In H1 2025, they recorded 1.4 million guests and an occupancy rate of 73%. Proprium Capital Partners and StepStone Group sponsored this acquisition. European Hostels Market is expected to grow at a CAGR of 5.8% from 2025 to 2030.

🏨 Raines and Vantage Realty Partners acquired the historic Rose Hill Estate in downtown Aiken, aiming to transform it into a boutique hotel by late 2027. The estate, listed on the National Register of Historic Places since 1974, was initially bought by the Phelps family in 1898. Designed by J.F. Leitner, it features Shingle Style architecture. The project involves collaboration with Verity Works and includes partnerships with the Aiken Center for the Arts and the Historic Aiken Foundation.

🏨 A&O Hostels acquired Berlin-based Schulz Hotels to expand in Europe. Schulz, founded by Nizar Rokbani, Oskar Kan, and Sascha Gechter, operates a 1,000-bed hotel in Berlin, with another site in development. A&O aims to grow, citing a projected 5.8% annual growth in the European hostel market (2025-2030). In 2024, A&O hosted 2.8 million guests with 6.2 million overnight stays, supported by €500 million invested since 2023 with StepStone Group and Proprium Capital Partners.

🏨 Crow Holdings and Hilton have announced a new management agreement for the Hilton Anatole in Dallas, alongside a $100 million renovation of the Atrium Tower. Originally developed in 1979 by Trammell Crow, the 52-acre hotel includes 1,610 guestrooms and extensive amenities. Renovations, expected to finish by 2028, will update 899 guestrooms and 600,000 square feet of meeting space. The hotel has hosted numerous dignitaries and remains a prominent cultural venue.

📰 Windermere Hotel in the Lake District, built in 1847, is set for a multi-million-pound renovation by new owners, BH Group. Closed after autumn half-term 2025 for refurbishment by Marshall’s Building Contractors, the hotel plans to reopen in summer 2026. The upgrade will include new reception, bar, lounge, restaurant, and 75 refitted rooms, plus a new spa. This project will create up to 130 jobs and preserve the Lakeland slate exterior. BH Group previously refurbished the Swan Hotel for £7.5m.

📍 Mumford Company has completed an off-market transaction for Savannah Suites Atlanta Airport in Newport News, Virginia. Built in 2020, the property features 94 extended-stay suites. The seller, an Atlanta-based real estate developer, was represented by Steve Kirby and Ed James. The buyer, Wichita-based TGC Group, operates in 19 states and plans significant renovations and rebranding. This transaction demonstrates the parties' focus on overcoming market challenges.

🏨 Whitbread will convert Victory House on Kingsway, London, into a hub by Premier Inn hotel. The 45,000 sq ft office, bought for an undisclosed sum, will transform into around 200 rooms post-lease expiry in April 2026. Since February 2025, Whitbread has committed over £100 million on four London office conversions, adding nearly 1,000 rooms. Whitbread's vision is to expand budget hotel capacity in central London with compact, affordable accommodations.

🏨 Marriott International has acquired citizenM, integrating it into the Marriott Bonvoy system. On 3 December, the citizenM website and app will be discontinued. In Europe and the U.S., Another Star manages operations under a Marriott franchise, maintaining citizenM's distinctive service philosophy. Marriott now oversees global distribution and long-term brand development, including properties in Asia Pacific.

🏨 FBD Hotels and Resorts completed a €2m (£1.76m) refurbishment of the Grand Hotel Malahide's ground floor. Acquired for €55m (£48.3m) from the Ryan family in March, the 202-room hotel overlooks the Malahide estuary in Dublin. Designer Liz Harte modernized key areas, and €200k (£175k) was invested in the health club. The €5m (£4.4m) project, finishing by February 1, targets weddings. FBD operates in Ireland and Spain, with 2,000 staff and 1,387 rooms.