A bizarre world: GrandMet, Saudi, Priceline, and rates

Dear Insider,

A further hearing was held at the Amsterdam court regarding the structure and transparency of Grand Metropolitan Hotels Holding B.V. (GrandMet). The court had previously removed the Smura family from management and replaced them with an independent lawyer. However, the lawyer has not yet been granted access to key documents. The financial mystery still centres on the Genisys AI software. The court had already cast doubt on its value during the hearing. Lawyers were, and still are, searching for evidence and sources of funding within this vast corporate network. Kateryna Smura was expected to provide the answers. It's all still rather bizarre, but the judges aren’t letting up.

And they are perfectly entitled to their obstinacy. The GrandMet case is being heard before a specialised Dutch commercial court which deals with commercial disputes. It is one of the most unusual courts in Europe. For example, it can suspend managing directors and members of the supervisory board, appoint independent successors, block company resolutions and place shares under temporary independent administration. In an interview today, Dutch lawyer Onno Hennis – whose firm does not represent either party – explains the extent to which the court can act in the GrandMet case.

© hospitalityInside.com. Dieser Artikel ist urheberrechtlich geschützt. Sie dürfen ihn unverändert für nicht kommerzielle Zwecke weiterverbreiten, wenn Sie "hospitalityInside.com" und ggf. den Autor als Quelle nennen und er mit diesen Bedingungen für eine weitere Verbreitung erlaubt und gekennzeichnet wird. Falls Sie Inhalte für werbliche Zwecke nutzen möchten, fragen Sie bitte bei uns an.

Verwandte Artikel

After the Expo Real: The leap from the low

9.10.2026

Dear Insider,

What did you think of the atmosphere at Expo Real? We found no clear mood! Our editorial team – four women working flat out – can only draw conclusions today from the many conversations they had. The hospitality area in Hall A1 was very well attended on the two main days, Monday and Tuesday; everyone was keen to hear each other’s views. The hospitality industry did not complain; it was self-critical, honest and keen to foster greater cooperation both amongst itself and with its stakeholders.

Nevertheless, it sat there, terrified, like a rabbit caught in the headlights – "the Indians", PRISM. It's no wonder, given the rapid and harsh redundancies over the last few months. The culture clash intensified yet further when a Prism manager introduced himself to a German operator at the trade fair and, in his second sentence, asked, "Can we buy you?"

First there was the Revo shock earlier this year, and now the market is undergoing rapid change driven by new, international operators. Prism's founder and CEO, Ritesh Agarwal, sought to build trust during the conference panel and, due to time constraints, outlined only parts of the strategy. Seated next to him were the Dutch white-label operator Odyssey – which had recently undergone a thorough restructuring and was a "new entrant" to the market – as well as the two franchisors, Wyndham and Accor. Everyone wants solid business relationships.