Somerset Capital Partners invests in accelerated growth of hotel operator Black Label Hospitality

OISTERWIJK/SITTARD, February 22, 2024 – Somerset Capital Partners invests in accelerated growth of hotel operator Black Label Hospitality

Portfolio and development

BLH currently has six hotels operational in the Netherlands , and one hotel under development. The newcomer to the hotel market, with the support of the world’s most renowned hotel brands such as Accor, Hilton, Marriott and Intercontinental, has developed from a startup into an established and distinct player in the Dutch hotel market in just a few years.

Four of the six hotels BLH currently operates can be found in their home province of Limburg. One is the DoubleTree by Hilton Sittard, a hotel that was brought to development and opening during the corona crisis, which could count on great appreciation from Hilton International. BLH’s first hotel in Amsterdam is the small-scale Maison ELLE was launched in the heart of Amsterdam, a hotel formula that is new to the Netherlands and is enjoying unprecedented success in Paris – the only other location to date. This hotel is a collaboration between BLH and Extendam; the Parisien hotel-real-estate investor.

Hotello of the Year

Now that SCP has also acquired a significant stake in BLH, the hotel operator is ready for the next step and, in addition to further growth in the Netherlands, European expansion is possible. ,,We have been orienting ourselves abroad for some time, where we have been offered one promising hotel project after another. So with a reliable partner like SCP on board, a new world literally opens up for our hotel group,” said Hendricks, who last year was named Hotello of the Year by his peers partly because of his idiosyncratic view of developments in the international hotel industry. “If all goes well, we will soon be able to announce our first foreign project.”

Investment for growth

SCP invests in real estate and businesses with a long-term horizon. CEO Martin Hendricks had been looking for a strategic and capital partner for BLH for some time, he reveals. ,,We have turned down many offers recently, but are convinced that we have found the right partner with SCP. We came into contact with each other during the acquisition of the operation of Holiday Inn Eindhoven. For SCP, the acquisition of the Holiday Inn property was a first introduction to the hotel industry. It quickly turned out to click, with our orientation to further growth coming up at a fairly early stage.”

SCP endorses BLH’s (inter)national growth strategy. “We are very pleased to support a strong and fast growing company like BLH in its next growth phase,” said Joes Daemen, founder of SCP. “We have been very impressed by BLH’s knowledge and skills in the European hotel market and the efficiency and customer focus with which this company operates in its hotels. BLH has proven in a short time to be a decisive organization that can easily handle franchises with internationally leading hotel brands. BLH oversees the entire playing field. It has a good nose for new projects, as well as the ability to operate hotels in a contemporary way. We look forward to working with BLH and its experienced management team to support the next chapter of the successful BLH venture.”

About Somerset Capital Partners
Somerset Capital Partners is a family owned investment firm active in the fields of private equity, venture capital, public equity and real estate. Key domains include e-commerce, consumer, energy, mobility, life sciences, food, transportation and (logistics) real estate. www.somerset.eu/