Sircle Hospitality Group, a boutique hotel owner-operator with a portfolio of 37 assets across Europe, is to list on the Frankfurt Stock Exchange in a move to grow the business.
IPO sponsor and investor SMG Holding announced on Friday that the listing on the regulated market of the Frankfurt Stock Exchange is planned for the second quarter of 2024.
Upon listing, Sircle is expected to have a market cap of around €250 mln, backed by a €400 mln hotel real estate portfolio.
Funds raised will be used to expand the group’s hotel portfolio in Western European cities and the Mediterranean region.
Sircle has around 4,000 rooms (including hotels under renovation) in 37 upscale hotels in 23 European cities, complemented by 35 bars and restaurants. Around 75% of the portfolio is in Germany, the Netherlands, and Austria.
The group’s brands include Sir Hotels, Max Brown, The Cover private…
