Munich/Hamburg, November 2019 -- The Otto family has acquired a 25% share in the Ruby Hotel group. The acquisition has been carried out in the context of an increase of capital. 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.
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 competences 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 panEuropean 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.”
For example, ECE has managed to sign Ruby Hotels as tenant for a former office space at Kö Galerie Düsseldorf. ECE is also planning a congress hotel and a long-stay concept for the Marriott group in Hamburg’s HafenCity district.
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