White label hotel management company Revo Hospitality, formerly known as HR Group, has filed for insolvency and is to be restructured under its own management by the summer.
The company cited “increased wage costs and the sharp rise in minimum wages, but also higher costs for rent, energy and food” as contributing factors to the insolvency. “Above all, the strong expansion of the Revo Hospitality Group in recent years led to duplicate structures and integration problems,” it said.
In 2008, Revo (then known as HR Group) took over its first hotel in Leipzig. By 2020, the group operated 51 hotels and then expanded to its current 250 properties.
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