E+H has advised Leonardo Hotels Central Europe on the acquisition and restructuring of a hotel portfolio from the Austrian Star Inn Group. Reportedly, Puschner Spernbauer Rosenauer advised the former shareholders while Jaufer advised the target company.
Berlin-based Leonardo Hotels Central Europe is a hotel group with 98 properties in Central Europe. According to E+H, “in addition to the eight Star Inn hotels in Vienna, Salzburg, and Linz, a Vienna hotel that will open soon will also be acquired in a parallel transaction. The hotels will all undergo extensive renovations to match the design of Leonardo Hotels and to qualify for a higher hotel category. The Star Inn staff will be taken over completely, so that existing jobs will be retained and hotel operations will not be affected.”
According to the firm, “the insolvency of the Star Inn Group in Austria, which became known in May 2022, was preceded by the bankruptcy of the hotel chain in Germany in 2021. The insolvency was justified by the Corona pandemic. The reorganization will help the new investor Leonardo Hotels to expand its portfolio and secure a stronger share in the steadily growing hotel market in Austria.
E+H’s team included Partners Alric Ofenheimer, Marcus Benes, Dieter Thalhammer, Jana Eichmeyer, Karolin Andreewitch-Wallner, and Ulrike Sehrschoen, Attorney-at-Law William Redl, and Associates Helena Neuner, Johannes Helm, and Titus Kahr.
