Fattal Hotels Group, the Israel-based hotel company, is set to acquire all 12 hotels of the Zien Group in the Netherlands. Leonardo Hotels, a brand by Fattal Hotels, announced it has entered into an agreement with Zien Group to purchase the hotels from its owners, KSL Capital Partners LLC and its partner Garden Capital Group.
The deal will see Leonardo Hotels becoming one of the leading chains in the region, with the brand’s Benelux portfolio increasing to 28 properties. The acquired platform comprises five hotels in Amsterdam and several more in major cities like Rotterdam, The Hague, Eindhoven, Groningen and Maastricht.
The acquisition helps add 1,522 rooms to Leonardo Hotels’ portfolio, taking its total number of rooms in the Netherlands and Belgium to 4,161. Several well-known properties in Amsterdam, such as the Eden Hotel, The Lancaster Hotel, and The Manor, are now part of Leonardo Hotels.
Other terms of the transaction were not disclosed. The transaction is anticipated to close in the third quarter.
“These new hotels will benefit from the synergies of being part of a much larger hospitality group, providing our guests with access to a robust portfolio of hotels in an increasingly attractive hospitality sector,” said Guy Vardi and Yaniv Amzaleg, M&A directors of Fattal and MD of Fattal European Partnerships. “Additionally, our investors can look forward to having strong returns from their investments as we continue to grow.”
The 12-hotel portfolio by Zien Group was amassed by the Dijkstra family over 75 years. In December 2021, KSL acquired a majority stake in the Amsterdam-based Eden Hotels, which created a new parent company, Zien Group, in 2022. The group’s performance saw a steady improvement, through refurbishments and operational initiatives under CEO Billy Skelli-Cohen, with the company’s performance now outperforming pre-pandemic figures.
Founded in 2006 as Fattal’s European vertical, Leonardo Hotels’ overall portfolio now consists of more than 300 hotels spanning 21 countries. The brand will soon be announcing more acquisitions. In May, Leonardo Hotels added to its U.K. and Ireland collection with the acquisition of the luxury Hotel Gotham in Manchester for an undisclosed sum. The transaction was supported by the Fattal Partnership Fund.
Currently, Fattal owns and operates more than 300 hotels in over 120 global destinations totaling more than 50,000 rooms. The group has hotels in 21 countries and is looking to expand into newer markets.
