They operate in 12 European countries.
Europe’s biggest hotel operator has declared insolvency.
Revo Hospitality Group, who were formerly known as HR Group, have over 260 hotels in their portfolio and operate in 12 European countries.
They have hotels in over 140 cities.
They have a mix of hotels including Hilton’s, Marriott’s, Accor’s, Wyndham’s, and IHG, reports Metro.
They also own their own labels, such as Vagabond Club, Hyperion, and Aedenlife.
The move is set to affect around 140 companies, however there’s not expected to be any changes to the 125 hotels they have in Austria or Germany, nor will it affect their employees.
Revo Hospitality Group explained that the ‘economic crisis’ is the reason they’ve collapsed, saying that the management and holding company ‘got into difficulties’.
They said: “Around 140 companies belonging to the REVO Hospitality Group have filed for insolvency under their own management at Charlottenburg District Court.
“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.
“They also cited ‘increased wage costs’ and the ‘sharp rise in minimum wages.’ Plus, that ‘higher costs for rent, energy and food’ were ‘weighing on the business.
“Above all, the strong expansion of the Revo Hospitality Group in recent years led to duplicate structures and integration problems.”
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