The Group wants to grow to a total of 500 hotels by 2026.
Despite the difficult situation in the business travel and conference hotel sector, the company plans to grow from around 130 hotels to up to 500 in 2026, as the chairman of the supervisory board, André Witschi, confirmed. With a focus on small to medium-sized hotel groups, other companies are now to be acquired on a large scale.
Mr. Witschi sees a main strength in the strong offer in the lower price segment with brands such as Intercity or Zleep as well as the good location of the hotels and describes the recent changes at the top management level of Deutsche Hospitality also as an opportunity to grow profitably even in times of crisis.
Steigenberger's former CEO André Witschi, returned to Deutsche Hospitality as Chairman of the Supervisory Board in April 2020. The former German CEO of Accor was until then Chairman of the Board of Trustees of the Ecole hôtelière de Lausanne and is a member of the Supervisory Board of Romantik Hotel & Restaurants. Mr Witschi has good contacts in China, where the new Steigenberger owner Huazhu is based.
The Huazhu Group, a Nasdaq-listed hotel company from China, acquired Deutsche Hospitality in November 2019 through its subsidiary China Lodging Holding Singapore.
Deutsche Hospitality, with over 120 hotels and around 30 properties currently under development, is represented in 19 countries on three continents and also pursues an ambitious growth strategy. In 2019, the hotel group, which has been in existence for almost 90 years, announced its worldwide expansion plan, which aims to increase the global portfolio to 250 hotels by 2024. Now it plans to add 500 hotels by 2026.
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