TPG Real Estate has completed the purchase of A&O Hotels and Hostels. TPG Real Estate will acquire 31 leased and owned assets located primarily in Germany. Key members of A&O’s management team, including CEO Oliver Winter, will continue to lead the company after the transaction. Oliver Winter, CEO of A&O, commented: “We founded A&O almost twenty years ago in Berlin, and it has grown into one of the leading German budget hotel operators. With TPG’s global presence and expertise in buying and building platforms, I believe it is the ideal partner to strengthen and expand our business across Europe.” Michael Abel, Managing Director at TPG Real Estate, commented: “Partnering with A&O presents the unique opportunity to invest in one of Germany’s few leading, privately-owned lodging platforms. Given A&O’s impressive business track record, we see an opportunity to create a pan-European company of scale in a fragmented market that continues to experience robust growth. We look forward to working with the A&O team to continue the growth and success of the business.”
