The Prem Group, the hotel management business of property developer Paddy Kelly, has spent €65m buying nine hotels in Belgium and France, in a joint venture with Goodbody stockbrokers.
The hotels, which are branded Holiday Inn, Holiday Inn Express and Crowne Plaza, are based in Hasselt, Mechelen, Antwerp, Ghent, Ostend and Calais.
All hotels, which are recently constructed or renovated, will be managed by PREM Group making it the second largest hotel operator in Belgium.
Last year PREM Group announced a €100 million European expansion programme and acquired four hotels, the Golden Tulip Hotel, the Tulip Inn, the Ramada Plaza Hotel in Antwerp and the Bedford Hotel in Liege at a cost of €48 million.
