Vienna International Hotels & Resorts will grow its presence in Germany to 12 hotels with the acquisition of the Arcadia hotels in Landsberg am Lech and in Bad Oeynhausen.
Vienna International's expansion strategy continues with two more acquisitions in Germany. The Austrian hotel operator will take over the two Arcadia hotels with no interruption to service effective April 1, 2014. The parties have agreed to keep the purchase price confidential.
Dr. Andreas Karsten, CEO of the Austrian hotel group says, "The transfer of the Arcadia hotels in Landsberg and Bad Oeynhausen are a further indication of the trust in our management style and our asset strategy. We are delighted to be able to deepen our cooperation with the Arcadia Group." Dr. H.C. Reinhard Baumhögger, owner of the Arcadia Group, believes "Thanks to the synergy effects in sales, both groups benefit greatly from the transaction."
The acquisition will add 247 rooms to VI's supply with 103 rooms at the 3-star Arcadia Hotel Landsberg in Upper Bavaria and 144 rooms at the Arcadia Hotel Bad Oeynhausen.
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