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In 2016, Leonardo Hotels increased its revenue by +12%

The European subsidiary of the Israeli group Fattal Hotels submits its annual financial statement and its European development objectives.

Leonardo Hotels recorded a +12.5% increase in revenue in comparison with 2016, which represents 305 million euros (in Europe), and almost 600 million euros taking the Israeli chain into account. In 2016, the subsidiary developed seven new hotels, totaling 1 042 rooms. These hotels are established in Germany, the Netherlands, Spain, Czech Republic, and Great Britain.  In a quality upgrading approach, Leonardo Hotels invested some 10 million euros on renovations and currently plans to invest almost 20 more million euros in this area in 2017.

This year, Leonardo Hotels plans to strengthen the portfolio of its four chains: Leonardo Hotels, Leonardo Royal Hotels, Leonardo Boutique Hotels and the latest brand Lifestyle NYX, launched by the end of 2016, which places the emphasis on art and music. The brand’s first hotel opened in Milan in January. A second opening is planned for next fall in Madrid, followed by a third in Munich in 2018. The chain is wants to own 100 hotels by 2020. Its pipeline currently has 1,605 rooms, mostly located in Germany (Munich, Ulm, Nuremberg and Bad Kreuznach) and in the Netherlands (Amsterdam). A hotel is also scheduled to open in Poland, in Warsaw. Leonardo Hotels currently has a portfolio of 115 operational and/or developing hotels in Europe and in Israel, all positioned on the 3- and 4-stars segment.

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