Mergers & Acquisitions

💸 Ace entered sale negotiations with Sortis Holdings in early 2023, intending to sell for USD $85 million, but the deal fell through due to lost contracts and legal issues. Now, Seibu Prince Hotels Worldwide is acquiring Ace for USD $90 million, set to close by September 2025. Ace will stay independent within SPW's 94-hotel portfolio, with seven more in the pipeline. This highlights the trend of boutique hotels being absorbed by larger groups.

🏨 Emily Goldfischer interviews Barbara Muckermann, CEO of Kempinski Hotels, in the latest episode of *Hospitality Daily*. Barbara discusses her first year leading Kempinski, the world’s oldest luxury hotel brand, reflecting on lessons from her cruise industry career. She reveals insights into Kempinski’s culture, emphasizing an asset-heavy growth approach and future positioning. Hospitality leaders will gain new perspectives on service and strategy in a competitive market.

🏨 Global Mutual has launched Global Mutual Hotels following the acquisition of Okami Hospitality Partners. As of now, the platform manages €500 million in assets, totaling 1,000 keys, with another 1,000 keys in development in Spain and Portugal. Expansion plans include the USA, Middle East, and Asia. Managing Director Ritchie Gardiner noted the volatile macro environment presents opportunities, while Javier Batlle emphasized the strengthened potential through Global Mutual’s strategic capabilities.

🏨 Zeus International Hotels & Resorts acquires Eretria Hotel & Spa Resort in Evia, Greece, enhancing its Greek market presence with this coastal property. The resort offers renovated rooms, private pools, wellness facilities, and diverse dining options. With this acquisition, Zeus International manages over 4,000 rooms across Greece, Italy, Romania, and Cyprus. CEO Haris Siganos aims to transform it into a flagship destination, emphasizing guest experience and high-quality investments.

🏨 Japan's Seibu Prince Hotels Worldwide (SPW) will acquire Ace Group International, including Ace Hotel and Atelier Ace, for USD $90 million. The deal, via SPW's US subsidiary Ace Hotels Worldwide Inc., closes by September 2025. Ace Hotel will retain brand independence under SPW’s division. Ace operates eight hotels, including New York and Kyoto, with future openings like Ace Hotel Fukuoka in 2027. Post-acquisition, SPW and Ace will manage 94 hotels globally.

🏨 Sutton Hotel Collection is investing £9.5 million to refurbish The Castle Hotel Windsor, located opposite Windsor Castle. The project begins in November 2025, with completion by late 2026. The redesign includes bedrooms, suites, the ground floor, and a new British brasserie concept. 3DReid will lead the interior design. The plan aims to reposition the hotel in the Windsor market and enhance the visitor experience, capitalizing on the 12 million tourists visiting Windsor annually.

🏨 CBRE announces the sale of the International Hotel Killarney, Ireland, priced at £15.5-17.3 million (€18–20 million). This rare opportunity marks the first major Killarney hotel sale in nearly a decade. Owned by the Coyne family since 1976, the hotel features 98 rooms, a bar, restaurant, and event spaces. Located near Killarney National Park, it is free from branding ties, allowing flexibility for new owners. Strong interest is expected from domestic and international buyers.

🍿 Freddy's Frozen Custard & Steakburgers, with over 550 locations in the U.S. and Canada, has been acquired by investment funds affiliated with Rhône, a global private equity firm. Previously owned by Thompson Street Capital Partners, Freddy's generates over $1 billion in annual system-wide sales. Current executives, including President & CEO Chris Dull, will continue to lead. Acquisition terms remain undisclosed. The brand upholds its commitment to quality products and hospitality.

🍪 Freddy's Frozen Custard & Steakburgers was acquired by Rhône, a global private equity firm, from Thompson Street Capital Partners. The fast-casual brand operates over 550 locations across the U.S. and Canada, generating over $1 billion in system-wide sales last year. The executive team, led by President & CEO Chris Dull, remains unchanged. Terms of the acquisition are undisclosed.

🗺 ATG Travel Worldwide has acquired CWT’s business travel operations in Germany, enhancing its European market presence. The acquisition results in the formation of ATG Business Travel Management, GmbH. This entity will function independently in Germany, focusing on local leadership and operations. ATG, active in over 150 countries, aims to leverage local expertise for growth. This strategic move supports ATG's long-term international expansion and strengthens its foothold in Germany's business travel sector.