Louvre Hotels Group has purchased in a joint venture with the Eurasian private equity fund A Capital a portfolio of 10 hotels from the German affiliates of the French hotel chain Balladins.
Louvre Hotels Group has been advised by a team from CMS Hasche Sigle including real estate lawyers Dr. Andreas Otto and Dr. Jochen Reuter.
Louvre is the second largest European hotel group, which operates more than 1,200 hotels in 47 countries and to which the brands Golden Tulip, Tulip Inn, Royal Tulip, Premiere Classe, Campanile and Kyriad belong.
During the transaction, all hotels were purchased as well as the real estate on which the hotels are erected as running businesses.
The acquisition marks the entry of Louvre Hotels Group into the German hotel market.