An industry caught between mistrust and motivation

Dear Insider,

Since the recent headlines about Revo and the break-up of the company this week, we have been contacted by owners who do not trust the insolvency proceedings. If any other owners or (potential) operators have anything to share on this matter – in confidence, of course – then you know where to find me. Everyone is now waiting to find out the names of the five groups that wish to operate the 120 hotels in future. In the meantime, we are continuing our research.

To change things up a little, today we're bringing you entertainment from Mews, home of the mavericks. At its annual "Unfold" event in Amsterdam, the software company first brought a quirky solo guitarist onto the stage, followed by a cartoonist who coaxed "the child" out of the 700-strong audience and sketched their emotions and dreams. This paved the way for the great 'magic' of the hotel industry, which still embodies the unconventional, but no longer lives it. The receptionist is the one who shapes that first impression; it's just that they've been trained out of being creative. It's just wonderful to see how man and machine come together here. Mews is redefining "AI" (Artificial Intelligence) – as "Authentic Interaction" (AI). Sarah Douag was delighted.

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Revo, Sircle, OYO: the roots of evil?

22.5.2026

Dear Insider,

Things are really heating up in the industry at the moment. Sircle Group and Revo Hospitality are finding themselves increasingly mired in negative headlines, and their misconduct is no longer an isolated incident. No, their behaviour is becoming the norm – and not just in Germany, but across Europe and internationally. Property owners and landlords are facing empty coffers. The only recourse left is the courts, which Deka Immobilien and Pandox are now also turning to. Everyone wants their rent arrears, in some cases amounting to millions.

As my colleague Sarah Douag has noted, the Sircle case – involving over € 30 million in lost rent – is the largest to date, the longest-running and the most structurally complex. Revo's debts are not yet known.

Gradually, a picture is emerging of a chain that begins with a complex web of holding companies, through which subsidiaries apparently pass on fees and other revenue through so many layers that, by the time it reaches the owner at the end of the chain, no money remains. Insiders are familiar with such "intercompany structures", which are often set up for the purpose of money laundering. Landlords will therefore be under greater pressure than ever before to monitor the tenant and their behaviour. Furthermore, the so-called 'good old' sale-and-leaseback process needs to be redefined; at present, when misapplied, it is one of the root causes of the problem. Dive right into this fascinating article.