Hotel giant with 8,300 employees files for insolvency

"Berlin-based Revo Hospitality Group was founded in 2008 (Getty) Revo Hospitality Group, Europe's largest third-party hotel operator, has filed for insolvency under self-administration in Germany. The group, which manages over 260 hotels and 8,300 employees across 12 European countries, including properties under major brands like Hilton and Marriott, made the filing at the Charlottenburg district court in Berlin. Around 140 companies within the German hotel group are affected, with plans for a financial restructure under self-administration this summer."

"Around 140 companies within the German hotel group are affected, with plans for a financial restructure under self-administration this summer. Despite the insolvency, approximately 125 hotels in Germany and Austria are expected to continue operating, retaining all 5,500 employees in those regions. The company cited increased wage costs, higher expenses for rent, energy, and food, alongside integration issues from rapid expansion, as key factors contributing to its financial difficulties."

Revo Hospitality Group, founded in 2008 and based in Berlin, is Europe's largest third-party hotel operator. The group manages over 260 hotels and 8,300 employees across 12 European countries, including properties operated under major brands such as Hilton and Marriott. The company filed for insolvency under self-administration at the Charlottenburg district court in Berlin. Around 140 companies within the German hotel group are affected, and a financial restructure under self-administration is planned for this summer. Approximately 125 hotels in Germany and Austria are expected to remain open, retaining all 5,500 employees in those regions. The firm attributed its financial difficulties to increased wage costs, higher rent, energy and food expenses, and integration issues from rapid expansion.

Read at www.independent.co.uk