Orrick advised Austria’s Aaron Hotels & Hostels Holding AG in the sale of all of its shares in the budget hotel and hostels chain A&O Hotels and Hostels. At the same time, ÖMA GmbH has reduced its participation in the A&O Group to 7%. The purchasers are Alpha Property Holdings S.à r.l., Alpha OpCo Holding GmbH & Co. KG and again ÖMA GmbH.
Aaron Hotels & Hostels Holding specializes in long-term investments in hostels and budget hotels where they are strategically and entrepreneurially involved in the operational business. ÖMA GmbH has many years of experience in the hospitality, tourism and hotel industry.
A&O is the largest privately run hostel chain in Europe with 31 houses in 19 cities. Their current locations in Germany, the Netherlands, Austria and the Czech Republic offer the combination of hotel and hostel under one roof. Locations in Denmark and Italy are scheduled to open soon.
The transaction has been structured as a share deal and has been approved by both the German and Austrian antitrust authorities. The purchase price is undisclosed.
The Düsseldorf-based Orrick team advising Aaron and ÖMA was led by M&A and Private Equity partner Oliver Duys. He was supported by partners Sven Greulich (M&A and Private Equity) and Stefan Schultes-Schnitzlein (Tax), counsel Nikita Tkatchenko (M&A and Private Equity) and associates Johannes Rüberg, Julia Overhage, Christoph Wenderoth (all M&A and Private Equity) and Markus Piontek (Tax).