Kempinski changes management structure

Munich/Bangkok/Bahrain. Kempinski Hotels will definitely not be sold. The two shareholders of Kempinski AG once again acknowledged that they would support the luxury hotel group strategically and on a long-term basis. However, there has been a change in the ownership structure: the Crowne Property Bureau from Bangkok, the majority shareholder with 86 percent up to date, is retaining 30 percent of the shares. In return, the shareholders from Bahrain, which are supported by the reigning family of the Arab emirate, increased their shares from 14 to 70 percent. The respective notarial agreement was signed at the headquarters of Kempinski AG in Munich a few hours ago.

Markus Semer, Kempinski's CEO since March 31, 2016, is now able to plan in the long term, re-position the luxury hotel chain for the international competition, and stop the rumours of a potential Kempinski takeover. In the last months, Semer was apparently able to convince both shareholders that quality-oriented luxury can only be obtained following a long-term strategy and not by means of a quick, yield-focussed short-term strategy, where the group would be incorporated in a funds-operated mega corporation with standardised 5-star quality. "Our owners have acknowledged that Kempinski remains a privately run business," says Semer. Kempinski currently has 75 hotels; 22 are under construction.

According to the changed majority of shares, the head of the supervisory board is also changing: Mr. Abdulla H. Saif – Representative of Bahrain – will take the chair, while the former Chairman Chumpol Na LamLieng of CPB will be Vice Chairman. The members of the supervisory board are Mrs. Chonpreya Pacharaswate, Mr. Aymen T. Almoayed, and Mr. Robert H.J.J. Timmers.

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