Germany's Novum Hotel Group is planning to expand its portfolio to 85 hotels by 2020. Currently, the company has 57 properties in its portfolio across Germany. The company is also looking to expand internationally and focus on franchise contracts.
"We will be going out on a limb, but not by much, since our forecasts could not be any better," David Etmenan, managing partner of the NOVUM Group, told HospitalityNet. "The frequency of our hotel takeovers is increasing steadily and our pipeline is packed."
At the beginning of this year, David Etmenan placed the company's target at 60 hotels within the next 3 years, a target that will in all probability be reached in a third of that time. The company is expected to announce three other deals later this year. "We are currently sharpening our focus on growth through franchising. We are already in advanced talks with Accor, specifically regarding the brands ibis and Mercure. The voices of our investors on this matter are also very positive," Etmenan said. In terms of international expansion, the company is looking at German-speaking countries, but Etmenan said that the Netherlands "is also an appealing prospect." Advanced discussions are already underway for an object in Vienna, Austria.