Swissôtel Rumoured To Be Up For Sale

February 12, 2001 – HVS International

The parent company SairGroup is believed to be undergoing a strategic review and is considering selling off its non-flying activities. If this is to be the case, then the Swiss-based group Mövenpick has expressed an interest in acquiring Swissôtel, the SairGroup's hotel division.

According to a spokesman at Mövenpick, the Swissôtel group would be considered as a good compliment to the Mövenpick Hotels, although the two companies are understood to have not so far engaged in any discussions.

Swissôtel generated revenue of Euro 123.7 million in 1999 and has some 20 properties across the globe in cities such as Brussels, London, Cairo, Seoul, Beijing, Montreux, Geneva, Amsterdam, Quito, New York and Washington. Meanwhile, Mövenpick comprises some 39 hotels largely in Europe and the Middle East.

There is speculation, however, that Radisson SAS and Kempinski Hotels are also potential bidders for the Swissôtel group.

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