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Odyssey Hotel Group (OHG), the Netherlands-based pan-European multi-brand hotel operator, has signed Hotel Management Agreements (HMAs) for four major hotels in Germany owned by Covivio, one of Europe's foremost real estate operators with more than 280 hotels across the continent and a total portfolio valued at approximately €24.2bn.
The four properties, located across Berlin, Leipzig and Potsdam, bring more than 1,200 additional rooms under OHG's management, growing its total portfolio from approximately 4,200 to more than 5,400 rooms and lifting the proportion of rooms in the premium segment to almost half of all rooms under management.
Inside the four properties: Berlin, Leipzig and Potsdam
The four hotels span a range of market segments and conference capabilities:
- Westin Grand Berlin, Friedrichstrasse: 400 rooms, 11 conference rooms, 687 m² of event space
- Westin Leipzig, one of eastern Germany's leading conference hotels: 436 rooms, 49 conference rooms, 4,810 m² of event space
- Radisson Blu Hotel Leipzig: 214 rooms, 10 conference rooms, 700 m² of event space in a central city-centre location
- Mercure Hotel Potsdam City: 210 rooms, 13 conference rooms, 457 m² of event space in the wider Berlin metropolitan region
Total meeting and event capacity across the four properties exceeds 6,500 m².
What OHG and ActivumSG leadership say
Gonzalo Carpintero Navarro, CEO of Odyssey Hotel Group, described the collaboration as a decisive milestone in the company's development, saying OHG has already established itself as a hotel operator and development partner and is now underlining its expertise as a professional hotel manager trusted by leading institutional owners.
He said the company is delighted to have earned Covivio's trust and is entering its next phase of growth with more than 5,400 rooms now under management.
Bernardo Lazcano, Managing Director of ActivumSG, the pan-European private equity firm and sole owner of Odyssey Hotel Group, said the agreement represents more than an expansion of the portfolio, underlining OHG's ambition to strengthen its position as a leading third-party hotel manager for institutional investors under long-term agreements.
He said owners are increasingly seeking experienced operational partners capable of enhancing performance and managing the growing complexity of modern hotel operations, and that this transaction demonstrates OHG's ability to deliver those services at scale.
Also Read: Apsys Acquires 3 Stawy Shopping Centre in Katowice
Why Covivio chose management agreements over leases
The choice of HMAs over leases is a notable structural detail. Under a lease, the operator takes on revenue risk and pays the owner a fixed rent, giving the owner predictable income regardless of trading performance.
Under an HMA, the owner retains the revenue risk while paying the operator a management fee typically linked to revenue and profit.
Covivio's decision to use HMAs for these four properties indicates the company wants exposure to the trading upside of the assets rather than locking in fixed lease income.
Odyssey Hotel Group was founded in the Netherlands in 2012 and currently operates 30 hotels across six countries, with a pipeline of 25 further properties and more than 1,800 employees.
The transaction was managed entirely in-house by OHG's own Development & Asset Management team.
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