Whitbread PLC bought a three-property hotel portfolio totaling 482 rooms in Germany for an undisclosed sum, marking the U.K.-based company's second acquisition in Germany.
The portfolio, sold by a private individual, comprises two leasehold hotels that are open and operating in Nuremburg and Munich, with Whitbread having the right to acquire the freeholds in seven and 13 years, respectively. A further leasehold hotel is under development in Stuttgart.
Whitbread said the Acomhotel-branded properties will be renovated, after which they will be relaunched as Premier Inn hotels, expected to occur in early 2020.
