Deutsche Buys Stake in Zleep
Acquisition of 51% stake launches Deutsche into economy space
German hotelier Deutsche Hospitality has purchased a 51% stake in family-run Zleep Hotels, adding a fifth brand to its portfolio.
The Zleep flag joins Deutsche’s four other hotel brands: Steigenberger Hotels and Resorts, MAXX by Steigenberger, Jaz in the City and IntercityHotel. This latest acquisition launches Deutsche into the economy market and sees the company expand into Scandinavia.
Ten hotels in Denmark and one hotel in Sweden are part of the Zleep Hotels portfolio, with four more in the planning stage. Deutsche and Zleep plan to invest several million dollars in the further development of the company. The Copenhagen-based brand also offers the opportunity for Deutsche to expand in Northern Europe.
With the planned acquisition of Zleep Hotels, the portfolio of Deutsche includes nearly 150 hotels on three continents, 30 of which are in the pipeline.
Photo of Zleep Hotel Aalborg guestroom: Courtesy of Zleep Hotels