VI continues expansion in Germany by acquiring 10th Arcadia Hotel
The Arcadia Hotel Trier, which was taken over on 31 July, has become the tenth hotel of the Arcadia Group to be managed by VI. Dr. Andreas Karsten, CEO of VI Hotels, sees great potential in the group's latest addition and in Trier as a travel destination. "In Trier we find all prerequisites for a successful hotel. The highly professional team and the infrastructure facilities will contribute to the ongoing success of the establishment, as will the city's numerous sights, educational institutions, the internationally renowned Academy of European Law and the strong local industry," says Dr. Karsten.
The Arcadia Hotel Trier was purchased by VI's German subsidiary, VI Asset GmbH. The hotel will be integrated without any interruption in service. Both parties agreed to keep the purchase price confidential.
With the acquisition of the Arcadia Hotel Trier, VI continues to pursue its value-driven growth strategy and to meet the economic interests of its shareholders and prepares for the planned IPO. After purchasing a total of EUR 50 million in real estate assets (based on fair market value) in 2013, the group has continued its resounding success in 2014 with four more real estate acquisitions. Shareholders allowed VI to retain a large portion of last year's profit, which had increased by more than 22%. The agreed capital increase, as announced by VI in early summer, was successfully completed. "Vienna International boasts an excellent strategic position and robust earnings," Dr. Karsten goes on to say. "We are also very pleased that our equity ratio, as defined by IFRS, ranges close to 30%, despite intense acquisitions on a scale typical of real estate transactions. This goes to show that we have cut good deals, that we manage hotels superbly, secure appropriate funding and pay back debt quickly on the back of a strong cash flow."
Arcadia Hotel Trier
The 4-star Arcadia Hotel Trier offers 102 rooms and 3 suites and is located in a quiet, yet central part of the university city on the Moselle river, right next to the well-known Imperial Baths. With a population of around 100,000, Trier is the fourth-largest city of Rhineland-Palatinate and is believed to be the oldest city in Germany.
Visitors to Trier will find many well-preserved archeological structures, some of which have been listed as a UNESCO World Heritage Site, such as the Porta Nigra – the foremost landmark of the city.
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ABOUT VIENNA HOUSE
Vienna House is all about travelling, making new experiences and exploring as well as recognising the true beauty in the simple things in life. Austria's largest hotel group – repositioned in 2016 under the umbrella brand "Vienna House" – owns and manages hotels with their own character but with shared values and one aim: to inspire guests. The "Vienna House" brand comprises individual city and resort hotels in the 4-star superior and 5-star segments representing timeless design and natural premium quality. Hotels of the "Vienna House Easy" brand are cool, fresh and down-to-earth; the style of the 3- and 4-star hotels is smart and casual. The company currently employs 2,200 staff members in nine countries: from France to Russia, from Poland to Austria. Including cities like Berlin, Bratislava, Bucharest, Coburg, Carlsbad, Cracow, Dresden, Ekaterinburg, Lodz, Munich, Paris, Prague and Trier. Vienna House is a registered trademark of Vienna International Hotelmanagement AG. www.viennahouse.com