Associated Luxury Hotels (ALH) announced Tuesday it has acquired Germany-based Worldhotels, expanding its collection of independent upper-upscale and luxury hotels and resorts around the world as well as its sales, marketing and hospitality services.
According to HotelsMag.com, ALH acquired Worldhotels from Boston-based private equity firm Battery Ventures for an undisclosed price.
ALH, which owns and operates Associated Luxury Hotels International (ALHI), will operate ALHI and Worldhotels as separate divisions, it announced.
The acquisition is poised to benefit both groups by expanding their geographic reach. Worldhotels currently boasts 350 member hotels and resorts, while ALHI features more than 250 luxury independent properties.
"Bringing together these two highly respected companies enables us to become a significant, full-service luxury 'soft brand' solution to serve the evolving needs of our valued customers, and our exceptional memberships of independent hotels, resorts and independent brands, plus their management and ownership groups," said Associated Luxury Hotels' chairman David Gabri in a statement accompanying Tuesday's news.
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The acquisition means that ALH's chief commercial officer Tom Santora becomes Worldhotels' executive chairman. However, Geoff Andrew will remain in the role of Worldhotels' CEO at the group's headquarters in Frankfurt.
Santora told HotelsMag.com that ALH aims to triple Worldhotels' profitability over the next two to three years and grow its members to as many as 500 within the next 30 months.
The acquisition makes plenty of sense given that ALHI focuses primarily on the meetings and convention marketplace, while Worldhotels targets individual travelers and providing loyalty solutions.
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