Hotel chain declared bankrupt: Owned 50 luxury hotels

One of Germany’s leading hotel chains, Achat Hotels, has filed for bankruptcy.

According to a report on Artı49, the company’s shareholder, GBK Beteiligungen AG, announced that due to challenging market conditions, it could no longer meet its obligations.

50 LUXURY HOTELS MAY CLOSE

Achat Hotels, which has more than 5,800 rooms, operated 50 three- and four-star hotels across Germany. In 2023, the company, along with B&B Hotels, was recognized as one of the fastest-growing hotel chains in the country, opening 14 new hotels last year. However, with this unexpected development, many hotels now face the risk of closure.

TENSE DAYS IN THE TOURISM SECTOR

The bankruptcy of Achat Hotels has caused a significant shock in the tourism industry. Experts point to economic challenges, rising interest rates, and increasing competition as the primary reasons for this situation.