KSL enters majority ownership of Eden Hotels17 Dec 2021
KSL Capital Partners enters majority ownership of Eden Hotels in The Netherlands
Dijkstra family retains minority interest, Leon Dijkstra remains CEO
Amsterdam, 17 December 2021 – Eden Hotels (“Eden”), the Dutch hotel group owned by the Dijkstra family, announced today that an affiliate of KSL Capital Partners (“KSL”) made a majority investment into the group. The Dijkstra family will retain a significant minority stake in the group, and Eden CEO Leon Dijkstra will remain in his role in Eden Hotels. The combined ambition is to expand Eden Hotels into Europe. 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 has been built up by the Dijkstra family over almost 75 years and includes, among others, the 400-room Eden Hotel Amsterdam as well as the Hard Rock Hotel Amsterdam American. Today, the business employs over 500 people across its hotels and central offices.
The investment allows Eden to access KSL’s international hospitality experience, which spans over 30 years, and KSL’s financial resources to invest into the existing portfolio. 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.
Leon Dijkstra, shareholder and CEO, noted “We are very excited to team up with KSL. This is a great new chapter for Eden Hotels. We are looking forward to further grow our company into Europe. We strongly believe that our company Eden Hotels shall benefit from the international expertise and experience of the KSL team while maintaining at the same time our core business values and DNA”.
Martin Edsinger, Principal at KSL Capital Partners, said “Our team is very excited to become the custodian of Eden Hotels, alongside Leon as a long-term shareholder of the business. 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 & Finance).
KSL Capital Partners were advised by DeBrauw and Latham & Watkins (Legal) and Deloitte (Financial and Tax).
About Eden Hotels
Eden Hotels is a Dutch family business consisting of 14 city center hotels offering local experience and lasting memories since 1947. The hotel group consists of the Hard Rock Hotel Amsterdam American, The Lancaster Hotel Amsterdam, Eden Hotel Amsterdam, Jan Luyken Hotel, The Manor Amsterdam, The ED Amsterdam, City Hotel Hengelo, Crown Hotel Eindhoven, Holiday Inn Eindhoven, Babylon Hotel Den Haag, Designhotel Maastricht, City Hotel Groningen, Oranje Hotel Leeuwarden and the Savoy Hotel in Rotterdam. For more information, please see www.edenhotels.nl or visit the individual hotel websites.
About KSL Capital Partners
KSL Capital Partners, LLC is a private equity firm specializing in travel and leisure enterprises in five primary sectors: hospitality, recreation, clubs, real estate and travel services. KSL has offices in Denver, Colorado; New York City; Stamford, Connecticut; London, England and Singapore. Since 2005, KSL has raised in excess of $15 billion of capital across both equity, credit and tactical opportunities funds. KSL's current portfolio includes some of the premier properties in travel and leisure. In addition, KSL’s European Capital Solutions (ECS) platform focuses on non-controlling equity and credit investments throughout the capital structure across the European travel and leisure space. For more information, please visit www.kslcapital.com