Kempinski cleans up

Geneva. "Kempinski Hotels today announces the appointment of Bernold Schroeder as Chairman of the Board and Chief Executive Officer ad interim with immediate effect. The news follows the decision of Kempinski's Board of Directors to part ways with the previous Chief Executive Officer, Martin R. Smura." This is the official press release from the luxury hotel group this morning. However, Smura had to leave the office already on Friday, according to information from hospitalityInside.

Cologne/Geneva. With a sale-and-lease-back deal, Honestis AG Cologne and another owner want to sell their hotel pearls in Wiesbaden, Bremen and Baden-Baden for around 160 million euros to an Egyptian investor, lease them back and then have them managed by Kempinski Hotels. And Kempinski CEO Martin Smura is prepared to waive fees. Martin Smura is under pressure: The expansion with the investment and development partner 12.18, announced with much fanfare in 2019, will now not take place. The deal will be rescinded.

Geneva. On July 1, 2019, Martin Smura became CEO of the Kempinski luxury hotel group. Exactly one year later, Chief Financial Officer Michael Pracht left the company. The only progress the group made over the past few months were in its announcements. Some stumbling blocks result from corona, but not all of them.