Leonardo Hotels to accomplish the Zien community, strengthening its presence within the Netherlands

The transaction became entered into with associates of KSL Capital Companions, LLC, a number one investor within the mosey and leisure sector, and Backyard Capital Team, whose shareholders are the founders of Zien. Monetary phrases of the settlement weren’t disclosed and the transaction is anticipated to shut within the third quarter of 2024, topic to worn closing instances.

With this acquisition, Leonardo Hotels will add 1,522 rooms to its portfolio, bringing the entire to 4,161 rooms within the Netherlands and Belgium. This indispensable expansion comprises 5 hotels in Amsterdam and diverse other others in key cities a lot like Rotterdam, The Hague, Eindhoven, Groningen and Maastricht, reflecting the ambitious development design of Leonardo Hotels Benelux. The received hotels encompass successfully-known Amsterdam properties a lot like The Eden Resort, The Lancaster Resort and The Manor. Completion of this transaction is anticipated within the first half of of the third quarter of 2024, topic to merger clearance and the works council notification task.

The Zien Team, whose fresh portfolio became constructed up by the Dijkstra household over a length of 75 years, became majority-received by KSL in December 2021, at the tip of the Covid-19 pandemic. Below the management of Billy Skelli-Cohen, the community conducted focused renovations and operational initiatives that improved its efficiency past pre-pandemic stages.

“We’re delighted to had been awarded this indispensable mandate from KSL, which reflects totally on our capability to purple meat up deals of this nature – namely in a extremely aggressive task. These aloof hotels will income from the synergies of being a part of a noteworthy bigger hospitality community, providing our company with entry to a sturdy portfolio of hotels in an an increasing style of honest hospitality sector. Additionally, our investors can stumble on ahead to having proper returns from their investments as we continue to develop. By focusing on properties that align with Leonardo’s standards of excellence, the partnership seeks to curate a series of industry-leading hotels.” – Guy Vardi and Yaniv Amzaleg, M&A Directors of Fattal and MD of Fattal European Partnerships

“Zien’s hotels align seamlessly with Leonardo Hotels’ vision of welcoming company to piquant, regularly metropolis-heart locations. We behold many similarities within the passionate administration of these hotels and stumble on ahead to bettering our observe alongside our aloof colleagues.” – Alexander Kluit, Managing Director of Leonardo Hotels Benelux

“We’re delighted with this portfolio deal within the Netherlands, which will improve our series of hotels within the Benelux location to 28. Our community has viewed excellent development in latest years, now comprising over 300 hotels all the plot in which via 21 worldwide locations, with extra acquisitions to be supplied within the arriving weeks.” – Ronen Nissenbaum, CEO of Leonardo Hotels in UK, Ireland, Benelux, Spain, and Portugal

“We’re infected to hand the reins of Zien Team to Fattal Team and Leonardo Hotels as a strategic long-term proprietor. Now we maintain long diagnosed the strength of the Netherlands hospitality market.” – Martin Edsinger, Companion at KSL

“It has been our honour to be a part of the storied history of Zien Team and its iconic properties. We’re confident that Leonardo Hotels will enable a brand aloof chapter of persisted development for the portfolio as a part of a bigger community.” – Raphael Bihler, Senior Vice President at KSL