Aurelius Equity Opportunities SE & Co. KGaA is selling its subsidiary GHOTEL GmbH to Art-Invest Real Estate GmbH & Co. KG for €63 million, including subsequent components.
Bought by Aurelius from Deutsche Post in 2006 as Deutsche Post Wohnen, Ghotel Group owns and operates hotels in cities in Germany and Austria. Its portfolio includes proprietary brands such as Ghotel Hotel & Living and Nestor hotels, as well as franchise brands including Holiday Inn.
Ghotel Group has long-term framework agreements with hotel operators such as AccorHotels and InterContinental Hotels Group PLC and will open eight additional hotel locations through 2023.
Expected to close in the first quarter, the acquisition will enable Aurelius to book a positive earnings effect of almost €50 million for the 2020 financial year.