HR Group Expands Portfolio With Acquisition Of 34 Centro Hotels

Tuesday, June 4, 2024

HR Group acquires 34 Centro hotels, expanding its midscale segment presence across Germany, the Netherlands, and Austria.

Berlin’s HR Group (HRG) is advancing on its path of significant expansion. As of June 1st, it has successfully concluded the acquisition of 34 hotels, which encompasses two projects from Centro Holding and Centro Hotel Management GmbH. This deal also incorporates the absorption of 18 associated hotel entities across Germany, Austria, and the Netherlands, along with a management platform based in Hamburg. Consequently, this brings more than 2,800 rooms under the operational control of the HR Group.

Ruslan Husry, CEO and owner of HR Group, says: “I would like to thank Rahman Neiro,  CEO of Centro Hotel Group, for the trust and cooperation throughout the entire  business process. I am excited to continue managing these lifestyle hotels. As the  largest multi-brand hotel operator in Europe, we will leverage our operational  expertise and cutting-edge digitalisation to perfectly position these hotels in the  market.”

The Centro hotels are strategically situated within the midscale sector, designed to meet the demands of business and urban travelers in major cities across Germany, the Netherlands, and Austria. They feature modern design, contemporary services, and typically central locations. The hotels are managed under several brands, including Centro Hotels, NinetyNine, FourSide, Boutique, and NYCE.

Rahman Neiro, CEO of Centro Hotel Group, added: “I am very pleased that the HR  Group has seen the same potential in our concepts and properties as we have, and  these will now have the deserved growth potential due to their integration into HR  Group’s extensive network. The transition will be overseen by my sister, Homeira  Amiri.”

All employees of the hotels as well as the headquarter in Hamburg will be retained,  ensuring their continued professional growth and stability. The Hamburg team will  continue to manage the hotels as an independent business unit, led by Eric Buitenhuis.  Buitenhuis, who was with HR Group between 2006 to 2021, is the Managing Director and fully responsible for the management of the Centro portfolio and its integration  into HR Group. He is excited about this new challenge and the opportunity it presents  for the employees: “It is a wonderful task to integrate the employees and hotels into  the HR Group. I have accompanied the development of the HR Group for many years  and have closely observed its enormous growth. I am, therefore, proud to be part of 

this up-and-coming company again and to play my part—together with the great  employees.”  With the takeover of the Centro portfolio, HR Group‘s portfolio encompasses close to 200 hotels in Europe through either ownership, lease or management agreements. 

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