European hospitality firms change hands
Two firms have acquired European hospitality businesses.
TPG Real Estate has completed the purchase of A&O Hotels and Hostels, a privately owned hostel platform in Europe. Financial terms of the transaction were not disclosed.
Under the agreed terms, TPG Real Estate will acquire 31 leased and owned assets, with more than 20,000 beds, located primarily in Germany. Key members of A&O’s management team, including CEO Oliver Winter, will continue to lead the company after the transaction. The transaction will help A&O expand and enhance its operations, strengthening its position as one of Europe’s leading budget hotel investment, development, and management groups.
Colliers International Group has acquired Vision Asset Management, a European hospitality asset management company.The details of the transaction were not disclosed.
The business will be rebranded as Colliers International and integrated into the existing hotel