a Hostels Acquires Schulz Hotels to Boost European Expansion
a&o Hostels, Europe's largest hostel chain, has acquired Berlin-based Schulz Hotels as part of a EUR 500 million growth strategy. The acquisition includes the premium budget hotel Schulz Berlin, which will continue to operate under its brand. The founders of Schulz, Nizar Rokbani, Oskar Kan, and Sascha Gechter, will join a&o's management team to aid in expanding the brand. This move is part of a&o's strategy to strengthen its position in core markets and respond to market trends such as increasing inbound tourism and a growing number of price-sensitive travelers. The European hostel market is projected to grow at a compound annual growth rate of 5.8% between 2025 and 2030.