Revo, Sircle, OYO: the roots of evil?

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.

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The EU and the tourism sector: Controversy at HITT

15.5.2026

Dear Insider,

The EU was at HITT – represented by two experts seeking to forge links with the tourism, hospitality and AI sectors. They didn’t make political PR speeches; instead, they spoke plainly. Nevertheless, some participants levelled very sharp criticism at Dr Misa Labarile and Mihaela Lafont. Conversely, the representatives of the European Commission acknowledged the EU's mistakes and gave a sober assessment of what is actually feasible within this system. Both urged the sector once again to speak out – only then would it be heard.

Misa spoke about the EU tourism strategy, which has been in the pipeline for 25 years and is finally due to be published by the end of July as a frame work. The bitter realisation: Tourism and hospitality have so far NOT featured at all on the Commission's agenda as strategically important sectors! Excuse me? How is that possible after 25 years of lobbying by European hotel associations?

A new door is currently swinging wide open for the industry: the topic of AI. To begin with though, the IT and AI specialists among the HITT participants engaged in a heated debate with Mihaela about the EU’s lack of competitiveness. However, Mihaela from the EU AI Office also highlighted new avenues for greater cooperation: Among other things, a Tourism Data Space is currently in the pipeline, and the AI Office is inviting the industry to help shape the next steps.