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Business & Finance

Puneet Chhatwal, CEO Steigenberger Hotels AG, Leaving Deutsche Hospitality

FRANKFURT AM MAIN, DE. August 31, 2017 - Puneet Chhatwal (53), CEO Steigenberger Hotels AG ®C Deutsche Hospitality group ®C leaves the company at the end of the year. After almost 30 years in Europe, therof the last five with Steigenberger Hotels AG, he returns to India. The Supervisory Board is grateful to Puneet Chhatwal for his achievements for the company and wishes him all the best for his new challenge.

Concerning the successor of Puneet Chhatwal as CEO of Steigenberger Hotels AG, the Supervisory Board will decide in due time.

About Deutsche Hospitality

Deutsche Hospitality brings together three separate hotel brands under a single roof: Steigenberger Hotels and Resorts stands for 60 luxury hotels ®C from historic and traditional establishments to vibrant city hotels and wellness oases surrounded by nature. Jaz in the City branded hotels reflect metropolitan lifestyle and draw upon the local music and cultural scene ®C the first Jaz hotel opened in Amsterdam in 2015. IntercityHotel offers more than 40 upper mid-range urban hotels, all of which are located within easy walking distance of railway stations or airports. A further 26 hotels are currently at the development stage. This means that the Deutsche Hospitality portfolio currently encompasses a total of 130 hotels on three continents. www.deutschehospitality.com/en/www.steigenberger.com/en ©¶www.intercityhotel.com/en ©¶ www.jaz-hotel.com/en

Contact:
Jannah Baldus
jannah.baldus@deutschehospitality.com
+49 69 66564-360

Coming Up In The December Online Hotel Business Review




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Feature Focus
Hotel Law: Issues & Events
There is not a single area of a hotelís operation that isnít touched by some aspect of the law. Hotels and management companies employ an army of lawyers to advise and, if necessary, litigate issues which arise in the course of conducting their business. These lawyers typically specialize in specific areas of the law Ė real estate, construction, development, leasing, liability, franchising, food & beverage, human resources, environmental, insurance, taxes and more. In addition, issues and events can occur within the industry that have a major impact on the whole, and can spur further legal activity. One event which is certain to cause repercussions is Marriott Internationalís acquisition of Starwood Hotels and Resorts Worldwide. This newly combined company is now the largest hotel company in the world, encompassing 30 hotel brands, 5,500 hotels under management, and 1.1 million hotel rooms worldwide. In the hospitality industry, scale is particularly important Ė the most profitable companies are those with the most rooms in the most locations. As a result, this mega- transaction is likely to provoke an increase in Mergers & Acquisitions industry-wide. Many experts believe other larger hotel companies will now join forces with smaller operators to avoid being outpaced in the market. Companies that had not previously considered consolidation are now more likely to do so. Another legal issue facing the industry is the regulation of alternative lodging companies such as Airbnb and other firms that offer private, short-term rentals. Cities like San Francisco, Los Angeles and Santa Monica are at the forefront of efforts to legalize and control short-term rentals. However, those cities are finding itís much easier to adopt regulations on short-term rentals than it is to actually enforce them. The December issue of Hotel Business Review will examine these and other critical issues pertaining to hotel law and how some companies are adapting to them.