Golden Tulip announceed its participation in the shareholding of a new company called EuroTulip Hospitality Management BV…
Golden Tulip announceed its participation in the shareholding of a new company called EuroTulip Hospitality Management BV. The first acquisition of the company, represented by the takeover of the lease agreements of the former Euroase hotels, was finalised on 17th April 2003.
All six hotels are located in The Netherlands and have been associated with Golden Tulip Hotels, Inns & Resorts since 1st January 1994. The new company EuroTulip Hospitality Management B.V. will be operated under the guidance of Martin Paardekooper, former Director of Operations for Krasnapolsky Hotels & Restaurants.
Golden Tulip Hospitality BV, the parent company of Golden Tulip Hotels, Inns & Resorts, will be 20% shareholder. The other parties involved are the AHM Hotel Groep BV with 30% of the shares, Franmar Holding BV with 20% of the shares and Hooge Raedt Groep BV (HRG), the owning company of the real estate of the six hotels, with a 30% stake.
The hotels operated by the EuroTulip Hospitality Management are:
- Golden Tulip, Residence Victoria Hoenderloo, 109 rooms
- Golden Tulip, Landgoed de Wipselberg Beekbergen, 90 rooms
- Golden Tulip, Epe Epe, 138 rooms
- Golden Tulip, Loosdrecht Loosdrecht, 68 rooms
- Tulip Inn, Beekbergen Beekbergen, 78 rooms
- Tulip Inn, Amersfoort Amersfoort, 74 rooms
Hans Kennedie, managing director and CEO of Golden Tulip states: Being primarily a franchise company, this step is extremely significant to the brand. By having direct control over a number of hotels, we are able to set the standards for existing and new franchisees by showing flagship properties.
This step is strategically very important for AHM, states Job Heilijgers, owner and managing director of the AHM Hotel Groep. AHM currently operates 14 hotels and 4 conference centres and it is our goal to continue to grow our position in the hotel and meeting market. Through EuroTulip Hospitality, we have created a new vehicle for expansion, which will accelerate our growth plans.
Henk Sterk, managing director of the HRG, comments: We are very pleased to have joined forces with this consortium of investors. We feel that the strong background of all parties with Golden Tulip as such and with the management and operation of hotels represents a high value adding potential to the real estate of the hotels.
Martin Paardekooper, owner of Franmar Holding B.V., adds: The operation of these hotels will continue under its current management, however we see a high potential revenue improvements in the operations, through the synergies created by the group of investors and expertise available in the EuroTulip.
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