Last year the Achat Group opened 14 new hotels – now the German Achat Group is bankrupt. The downstream consequences of the corona pandemic, inflation and price increases would have forced the group into bankruptcy.
The Achat Group was one of the fastest growing companies in this field, as ‘Bild’ reported. The bankruptcy must be managed in-house; With the help of a court-appointed administrator, the company must be put back on a stable course.
Last year, the hotel group had another record year: in addition to the opening of many hotels, the chain also positioned itself broadly, invested in systems and structures and took over a larger hotel portfolio in 2023.
Companies lagged behind digitally
“The downstream consequences of the corona pandemic and the effects of inflation and price increases on all areas of the business model proved to be stressors. The changing booking behavior of corporate customers and the ongoing digital restructuring of the company also brought challenges,” the company said in a statement.
The Achat Group operates approximately 50 hotels in Germany with 5,800 rooms and also has a location in Budapest. The accommodations are still open and can be booked. It is not yet known what will happen to the 1,500 employees. It is also unclear whether the opening of a new hotel of Achat’s second brand, Loginn Hotels, scheduled for the summer of 2025, will take place.
Source: Krone
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