Europe's biggest hotel group Revo Hospitality Group goes bust

Revo Hospitality Group, formerly known as HR Group, is the largest white label hotel operator in Europe and manages a portfolio of 260 hotels across 12 countries and 146 cities.

The group operates hotels under major international brands including Accor, Wyndham, Hilton, Marriott and IHG, as well as its own brands Vagabond Club, Hyperion and Aedenlife.

In a statement, according to the Scottish Sun, the group said: "Around 140 companies belonging to the Revo Hospitality Group have filed for insolvency under their own management at Charlottenburg District Court.

"The approximately 125 hotels in Germany and Austria will continue to operate with all 5500 employees.

"The proceedings will be supervised by court-appointed administrators."

The insolvency filing marks the beginning of a restructuring process under self-administration.

The business said that "an economic crisis" had led to financial challenges for around 140 companies within the group.

The group cited multiple pressures, including higher wage costs, and sharp increases in minimum wage.

Rising costs for rent, energy, and food have also contributed to the company’s difficulties.

The company said: "Above all, the strong expansion of the Revo Hospitality Group in recent years led to duplicate structures and integration problems."

Revo’s future remains uncertain, although all 125 hotels in Germany and Austria will continue to operate during the insolvency process.

The company employs 5,500 people across those locations.

The group has experienced rapid growth since 2020, expanding from 51 to 250 hotels.

It now employs around 8300 people across Europe and reportedly generates approximately £1.1 billion in annual revenue.

The insolvency affects approximately 140 companies within the wider group.

Revo manages properties in popular holiday destinations.

The company’s wide-ranging portfolio includes both franchise operations for global brands and its own hotel concepts.

The court-appointed administrators will now oversee the restructuring process.

Revo Hospitality Group has been approached for comment.