Central European Hotel Investment Company (CEHI), an investment vehicle owned by Russian private investor Alexander Klyachin, has acquired hotel chain Austrian Hotel Company (AHC) for an undisclosed amount. The chain comprises 20 three- and four-star hotels in 17 cities in Austria, Germany and the Czech Republic. The acquisition is in line with the expansion of AZIMUT Hotels, which is similarly owned by Klyachin.
Central European Hotel Investment Company (CEHI), an investment vehicle owned by Russian private investor Alexander Klyachin, has acquired hotel chain Austrian Hotel Company (AHC) for an undisclosed amount. The chain comprises 20 three- and four-star hotels in 17 cities in Austria, Germany and the Czech Republic. The acquisition is in line with the expansion of AZIMUT Hotels, which is similarly owned by Klyachin.
Jones Lang LaSalle Hotels advised the buyer on the deal. Legal counsel was Beiten Burkhardt.
CEHI also said it plans to open eight new hotels with 1,161 rooms across Europe between now and 2010.
