Standing together with landlords

Hamburg. Yesterday Novum Hospitality published its preliminary figures for the financial year 2018. Following the opening of 14 hotels, GOP and EBITDA rose significantly.

Hamburg. "We have been catapulted into a success story", David Etmenan says, Chief Executive Officer of the German Novum Hotel Group. The group announces new acquisitions on an almost weekly basis. The portfolio grew from 12 hotels and 560 rooms in 2010 to 106 hotels in operation in July 2017. Pipeline included, Novum currently counts 146 hotels with over 16,000 rooms in over 65 destinations in Europe. This makes the group one of the biggest hotel chains in Germany. Now, 250 hotels are the next target. For some, this all sounds a little like the group is overestimating itself and like mysterious financing methods. Novum's super fast growth has caused a lot of confusion in the industry – though has also received approval. CEO David Etmenan and his Chief Financial Officer Torsten Scholl have made an effort to improve transparency in their answers to hospitalityInside's questions. For the first time, the company publishes concrete results for the 2016 financial year.