KSL Capital Partners Acquires Majority Ownership of Eden Hotels in The Netherlands
Main Photo: The Hard Rock Amsterdam American hotel, one of the 14 hotels acquired
Date: December 2021
Name: Eden Hotels
Locations: 7 in Amsterdam and across the Netherlands in Eindhoven, Leeuwarden, Den Haag (Hague), Groningen and Maastricht
Number of Keys: 14 hotels with 2,000 rooms
Seller: The Dijkstra family
Buyer: KSL Capital Partners, hotel owners under a number of brands
Eden Hotels, the Dutch hotel group owned by the Dijkstra family, announced in December 2021 that an affiliate of KSL Capital Partners made a majority investment into the group. The Dijkstra family will retain a significant minority stake in the group, and Eden CEO Leon Dijkstra will remain in his role in Eden Hotels. The combined ambition is to expand Eden Hotels into Europe. Terms of the investment are undisclosed.
Eden Hotels owns and operates 14 hotels with almost 2,000 rooms predominantly in Amsterdam and other major Dutch cities. The business has been built up by the Dijkstra family over almost 75 years and includes, among others, the 400-room Eden Hotel Amsterdam as well as the Hard Rock Hotel Amsterdam American. Today, the business employs over 500 people across its hotels and central offices.
The investment allows Eden to access KSL’s international hospitality experience, which spans over 30 years, and KSL’s financial resources to invest into the existing portfolio. The partnership will seek to grow the Eden platform through the acquisition of complementary city centre hotels in other Dutch as well as European destinations.
Leon Dijkstra, shareholder and CEO, noted “We are very excited to team up with KSL. This is a great new chapter for Eden Hotels. We are looking forward to further grow our company into Europe. We strongly believe that our company Eden Hotels shall benefit from the international expertise and experience of the KSL team while maintaining at the same time our core business values and DNA”.
Martin Edsinger, Principal at KSL Capital Partners, said “Our team is very excited to become the custodian of Eden Hotels, alongside Leon as a long-term shareholder of the business. We are particularly proud to become the trusted partner of a prominent family business. We think that Eden is a compelling collection of irreplaceable city center hotels where we see a joint opportunity to invest together and drive performance with the existing team. We further see an opportunity to continue Eden’s strategy to acquire more hotels and to expand across Europe.”
Eden Hotels were advised by CMS (Legal), Ajes Advisory (M&A), Bakertilly and BDO (Tax & Finance).
KSL Capital Partners were advised by DeBrauw and Latham & Watkins (Legal) and Deloitte (Financial and Tax).
Price: Undisclosed
THPT Comment: Slightly late on reporting this…KSL finished 2021 on a high with this acquisition. Interesting (and wise) of them, having made several forays into acquiring hotels in recent years to keep a number of the chain names, Beaumier, Sunce, Mission Hill, Village and others
First Seen: KSL press release
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