AMSTERDAM- Shareholders of the Dutch hotel group Krasnapolsky, have accepted NH Hoteles friendly takeover bid worth $425 million.
Following the merger, NH Hoteles plans to develop hotels in key European cities. The newly acquired three-star Hotel Regensurg and the Hotel Trier in Germany, will soon be re-branded as Tulip Inns. Krasnapolsky also owns the Eden Hotel in Dusseldorf, which is currently managed by Best Western, but will be re-branded as a four-star Golden Tulip later this year.
NH Hoteles also plans to develop hotels in Switzerland, and is currently in discussions to purchase the Koolping Hotel and the Union Hotel, as well as manage the Hotel Meyrin, close to the Geneva Airport. (9/12/00)
