With a goal to expand in The Netherlands and further into more European markets, KSL Capital Partners has acquired a majority share of Amsterdam-based Eden Hotels, which has been owned and developed by the Dijkstra family for some 75 years. The Dijkstras will retain a significant minority stake in the group and Eden CEO Leon Dijkstra will remain in his role. Terms of the investment are undisclosed.
Eden Hotels owns and operates 14 hotels with almost 2,000 rooms predominantly in Amsterdam and other major Dutch cities. The business includes, among others, the 400-room Eden Hotel Amsterdam as well as the Hard Rock Hotel Amsterdam American. Today, Eden Hotels employs more than 500 people across its hotels and central offices.
The partnership will seek to grow the Eden platform through the acquisition of complementary city center hotels in other Dutch as well as European destinations.
“We always believed the Netherlands to be a strong market for business but, in particular, leisure travel. Amsterdam is a good example for strong long-term trends,” KSL Capital Partner Principal Martin Edsinger told HOTELS on Friday.
Edsinger elaborated that when KSL leadership met Leon and the Dijkstra family, it recognized an opportunity to work together on the existing Eden portfolio, but in particular to acquire further urban hotels for the group together.
“The investment into Eden Hotels adds another strategy to KSL’s European hospitality playbook,” Edsinger added. “In Europe, we already own and operate leisure resorts, luxury boutique hotels, a non-urban hospitality business and now also an urban hotel platform.”
Edsinger went on to say, “We are particularly proud to become the trusted partner of a prominent family business. We think that Eden is a compelling collection of irreplaceable city center hotels where we see a joint opportunity to invest together and drive performance with the existing team. We further see an opportunity to continue Eden’s strategy to acquire more hotels and to expand across Europe.”
Eden Hotels were advised by CMS (legal), Ajes Advisory (M&A), Bakertilly and BDO (tax, ginance). KSL was advised by DeBrauw and Latham & Watkins (legal) and Deloitte (financial and tax).