Germany's Novum Group adds new hotels to portfolio

Germany’s Novum Hotel Group has been growing steadily over the last year, and is still expanding. Seven sleepNsmile Hotels were acquired last week (two hotels in Dresden, two hotels Neuss as well as three hotels in Düsseldorf), and the company is poised to add a new property to its portfolio next month. The 71-room Mercure Hotel Ingolstadt will come under the Novum banner on October 1. 

“Franchise partnerships are of particular importance to our international expansion,” Novum CEO David Etmenan said. “More and more major hotel corporations are looking for new operators as franchise partners. This is an important momentum for us, because thanks to further strong brands and sophisticated booking strategies, we can expect a significant growth." 

The German hotel market is also very important for international investors, Etmenan added. "This year is expected to set another tourism record, with four percent more overnight stays than in the previous year."

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Beyond its partnership with Accor, Novum is planning further franchise contracts with other international hotel groups to bring new hotels into the new Novum Hotel Collection. Nearly a year ago, the Group announced plans to expand its portfolio to 85 hotels by 2020. With the addition of the new properties, the group‘s portfolio has now reached 95 hotels with more than 9,300 rooms in Europe.

"We will be going out on a limb, but not by much, since our forecasts could not be any better," Etmenan said at the time. "The frequency of our hotel takeovers is increasing steadily and our pipeline is packed." 

Last month, Commerz Real, a wholly owned subsidiary of Germany’s Commerzbank, acquired another complex in the city for their public real estate fund hausInvest. When it opens in the first half of 2020, the hotel is expected to operate under the Novum brand.

 

 

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