A European hotel group with hundreds of properties has filed for insolvency in Germany.
The Revo Hospitality Group, formerly the HR Group, filed for insolvency under self-administration at the Charlottenburg district court in Berlin this week.
Revo was founded in 2008 and became Europe’s biggest white-label (third-party) operator, with a portfolio of over 260 hotels and around 8,300 employees in 12 European countries and 146 cities.
Around 140 companies within the German hotel group are affected.
Several of the group’s hotels sit under major global brands, including Accor, Wyndham, Hilton, Marriott, and IHG.
The hotel group will enter into voluntary insolvency, with plans to restructure under self-administration this summer.
According to local press, 125 hotels in Germany and Austria are expected to continue operating as the rest of the group undergoes a financial restructure.
In 2020, the hotel group underwent rapidly expanded from just 51 hotels.
Popular Revo Group hotels include the Grand Belvedere in Davos and the Pullman Berlin Schweizerhof in Berlin.
The hotel group said: “Around 140 companies belonging to the REVO Hospitality Group have filed for insolvency under their own management at Charlottenburg District Court”, reported Hospitality Inside.
It added: “The approximately 125 hotels in Germany and Austria will continue to operate with all 5,500 employees. The proceedings will be supervised by court-appointed administrators.”
According to the outlet Revo cited “increased wage costs” and “higher costs for rent, energy and food” as weighing heavily on the business.
The statement said: “Above all, the strong expansion of the Revo Hospitality Group in recent years led to duplicate structures and integration problems.”
The Independent has contacted Revo Hospitality Group for comment.
The hotel group is the latest to enter insolvency proceedings in the last year.
In November, short-term rental platform Sonder initiated the liquidation of its US business after Marriott announced that its licensing agreement for Sonder to use its Marriott Bonvoy reservation system was over.
Read more: Guests left stranded mid-stay following collapse of Marriott-linked hotel chain
Atari reveals designs for video-game-themed hotel
I’ve lived in Seville 20 years – these are the city’s best hotels
Germany’s unlimited train travel pass for under £2 a day
Best cheap hotels in London, as chosen by a local travel expert
Michael O’Leary challenges Elon Musk to arm wrestle to settle Ryanair-Starlink feud
