AccorHotels is acquiring a 30% stake in 25hours Hotels of Germany as part of a strategic partnership to grow the brand globally.
25hours is also expanding its internal development structures and establishing a creative laboratory.
“Loyal partners have supported our growth in the German-speaking market for the past ten years and we now also have the opportunity to conquer the world with a global partner,” said Christoph Hoffmann, 25hours’ CEO. He and 25hours’ management team will continue to run the company.
“This alliance came about because we were immediately attracted by these individual, design-oriented boutique hotels that are a great workplace for urban nomads and an ideal starting point for outings into key cities,” said Sébastien Bazin, Accor’s chairman and CEO. “Through this partnership, AccorHotels is investing further in one of the fastest growing segments in the industry and enriching its offer to achieve scale in this segment. Today, we are going one step further in our strategy to be a global leader in lifestyle hotels.”
25hours Hotels operates seven hotels in Hamburg, Frankfurt, Berlin, Vienna and Zurich. A further five hotels will open in Zurich, Munich, Cologne, Düsseldorf and Paris in the next two years.
The “Extra Hour Lab” will be created at the company’s Hamburg head office and will carry out “off-the-wall experiments and design new, exciting creations that are detached from its day-to-day business, and unconventional for the industry,” the company said.
The transaction is subject to regulatory approval in Germany and Austria.