Maribel: the ambitions of a new hotel management group

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Published on 15/10/18 - Updated on 17/03/22

Mads Jacobsen, Asmund Haare, Rune Firing

The new hotel operating company Maribel was created by First Hotels and Belvar, which have a total of 11,500 rooms.

Scandinavian First Hotels and Belvar have chosen to work together to create a new hotel management group called "Maribel". The latter will initially have 11,500 rooms in 11 countries with properties under the First Hotels, Moxy Hotels and Courtyard by Marriott brands.

Belvar has opened several hotels with Marriott and has plans to open 5 Moxy hotels in the United Kingdom, some of which are already operational. Belvar is currently working with the American group to create more than 9,000 new rooms within two years.

“The portfolios are very well suited to each other and this is one of the cases where the total value exceeds that of the individual contributing elements,” says Mads Jacobsen, CEO of Belvar.

The main objective of the new Maribel group will be to double the turnover of the two combined companies in two years; it is currently estimated at more than 200 million euros.

To lead the new group, Asmund Haare is now Chairman of Maribel's Board of Directors; the other members of the Board will be Mads Jacobsen, Rune Firing and Simen Haare. Mads Jacobsen has been appointed CEO of Maribel and Belvar, Rune Firing remains Chairman of the Board of Directors of Belvar.

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