Fattal Hotels has acquired 12 hotels in the Netherlands, totaling 1,522 rooms, including the Eden Hotel situated on the banks of the Amstel River opposite the Opera House. The hotels were purchased from KSL Capital Partners for approximately €360 million.
This acquisition is part of Fattal's partnership with institutional entities Menora Mivtachim, Harel, Phoenix, Migdal, and Bank Leumi. The deal is expected to close in the third quarter of the year, pending conditions.
Fattal plans to invest an additional €45 million to upgrade the hotels. With this purchase, Fattal continues to strengthen its presence in the Dutch hotel market, now owning 26 hotels (4,000 rooms) in the country, 11 of which are in Amsterdam. The current acquisition includes five hotels in Amsterdam, with the remaining seven located in Rotterdam, The Hague, and Eindhoven.
Fattal's growth strategy focuses on the Benelux region (Netherlands, Belgium, and Luxembourg), and this acquisition will position the company as a leading player in the area. Guy Vardi and Yaniv Amzaleg, heads of Mergers and Acquisitions and Partnerships at Fattal, stated, "The acquired hotels will benefit from the synergies of the Fattal Group, providing guests access to a diverse portfolio of hotels in attractive locations across Europe and Israel."
Since the inception of Fattal's partnerships in April 2022, including this deal, 40 hotels in Europe, totaling approximately 6,200 rooms, have been acquired with a total value of over €1.5 billion.
Ronen Nissenbaum, CEO of Leonardo Hotels in the UK, Ireland, Benelux, Spain, and Portugal, remarked, "Fattal Group has shown significant growth in recent years, now encompassing 292 hotels in 21 countries. In January 2024, the company completed its third partnership with Israeli institutional entities to acquire and enhance operational hotels in Europe, focusing on 4- and 5-star properties. To date, investment commitments total approximately €381 million, with the company estimating the total investment to reach around €400 million in equity."