Otto family acquires 25% share in Ruby Hotels

Otto family acquires 25% share in Ruby Hotels

The Otto family has acquired a 25% share in the Ruby Hotel group. Ruby Hotels has been founded in 2013 as a Lean Luxury hotel group and is currently operating seven Ruby hotels. Another ten hotels are under construction or being prepared for construction. The purchase price was not disclosed.

 

Alexander Otto, CEO of ECE: "As of today, ECE Group already is among the three largest hotel developers in the DACH region. By getting access to the operational expertise of Ruby hotels and combining it with our existing competencies in developing hotels, we will gain an excellent position to further strengthen our hotel investment activities.”

 

Michael Struck, CEO of Ruby Hotels: "This partnership provides Ruby with access to ECE Group’s pan-European network and development expertise. Based on the flexible room design concepts and the mixed-use approach of building design, we see major opportunities in the extension or conversion of inner-city retail space.” 

Related News