Israeli firm Fattal Hotels has agreed to buy owner European Hotel Management B.V., based in The Netherlands, for an undisclosed price. EHM owns Apollo Hotels, which has 13 assets in its portfolio, and the deal is due to be completed in the third quarter of 2018.
Tel Aviv/Amsterdam/Berlin, 28 June 2018 - The Dutch hotel organisation European Hotel Management B.V., owner of Apollo Hotels, is being acquired by the Israeli listed organisation Fattal Hotels. The executive boards of both companies have signed the contract to this end. The acquisition involves all 13 hotels in the group. Wellnessresort Thermae 2OOO in Valkenburg, also a subsidiary of the organisation, will not be part of the transaction.
David Fattal, Owner and CEO of Fattal Hotels: "The Netherlands is a very important link in the international business world. We were therefore actively looking for a platform to form the basis for further expansion. European Hotel Management offers excellent hotels, a strong national brand name and an extremely professional team with which we can further shape our growth ambitions."
Bas Tolmeijer, Co-Founder of European Hotel Management B.V. : “Since opening our first hotel in Lelystad in 2006, our group has undergone a massive development. We built up a robust organisation, financially strong and with the wonderful Apollo brand. We are now one of the biggest hospitality organisations in the Netherlands and I am enormously proud of the amazing people who look after the many guests who visit our companies every day. Fattal Hotels is a strong and pioneering organisation that will be able to further develop our chain. Furthermore, we can optimally benefit from its commercial network and the systems.”
The transfer is due to be finalised by 1 September 2018. All the personnel will be transferred, with the exception of the executive board. Bas Tolmeijer: "We are entrepreneurs with a huge passion for hospitality and we will continue to invest in excellent concepts, in the Netherlands and beyond, starting with the further roll out of the expansion plans in Thermal 2OOO."
European Hotel Management was founded in 2005 by hotel veterans Willem-Jan van den Dijssel, Bas Tolmeijer and Francesco Monaco. After initially being a multi-branded hotel group, the organisation changed course several years ago to focus on developing its own Apollo brand. Significant investments were also made in the quality of the portfolio and new hotels were opened (Apollo Hotel Groningen in 2016 and Apollo Hotel Vinkeveen in 2017). The group also concentrated on developing and operating strong food & beverage concepts like Floor 17 Amsterdam, Bierfabriek Almere and the Harbour Clubs in Amsterdam-Zuid and Vinkeveen.
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