- Grand Metropolitan Hotels initiated a separation from its Dutch joint venture with VZB.
- The group stated the joint venture failed after no agreement on the share acquisition.
- VZB did not approve a proposed capital increase for the holding company.
- The operational business continues in hotel management, branding and digital solutions.
- The Smura Family Holding owns the Grand Metropolitan Hotels Group outright.
Grand Metropolitan Hotels has initiated a separation from its Dutch investment holding company, Grand Metropolitan Hotels Holding B.V., which it jointly owned with the Versorgungswerk der Zahnärztekammer Berlin (VZB). The hotel group has stated that the joint venture has failed after no agreement could be reached regarding the acquisition of VZB’s shareholding. The company has confirmed that VZB did not approve a proposed capital increase and declined an offer to acquire the group’s shareholding.
The operational business of Grand Metropolitan Hotels remains focused on hotel management, branding, franchising, affiliations and digital solutions for the hospitality industry. The group’s portfolio includes TOP INTERNATIONAL Hotels, Voile d’Or Hotels & Resorts, Signature Hotels and Park Avenue Hotels. The Smura Family Holding owns 100pc of the Grand Metropolitan Hotels Group, with VZB holding a minority stake in the separate Dutch investment vehicle.
The separation relates solely to the Dutch investment holding company and does not affect the group’s operating activities. Grand Metropolitan Hotels has stated it will continue all core business areas, including brand development and technology initiatives. The company has appointed legal advisers to guide the restructuring process and will not comment on ongoing legal proceedings beyond confirmed procedural developments.
Martin R. Smura, Chairman of the Grand Metropolitan Hotels Group, shared, “We proposed a commercially sound solution for separating the shareholders. No agreement could be reached regarding the acquisition of VZB’s shareholding, and the proposed capital increase did not receive the required approval. As a result, the investment holding company has, in our view, reached a deadlock. We are now creating clarity and focusing on the independent development of our Group and its brands.”
