Odyssey Hotel Group Expands in Germany

By Courtney Rivera 06/08/2026 2 min read 17 views

Odyssey Hotel Group has signed management agreements for four Covivio‑owned hotels in Germany, adding more than 1,200 rooms to its portfolio and pushing the total under its oversight to over 5,400 rooms.

Odyssey now manages over 5,400 rooms.

New properties expand Odyssey’s German footprint

The four hotels are located in Berlin, Leipzig and Potsdam. The Westin Grand Berlin on Friedrichstrasse contributes 400 rooms, 11 conference rooms and 687 m² of event space. Leipzig sees two properties: the Westin Leipzig, a leading conference venue with 436 rooms, 49 conference rooms and 4,810 m² of event space, and the Radisson Blu Hotel Leipzig, offering 214 rooms, 10 conference rooms and 700 m² of event space. The Mercure Hotel Potsdam City adds another 210 rooms, 13 conference rooms and 457 m² of event space. Combined, the meeting and event capacity across the four sites exceeds 6,500 m².

Strategic shift toward management agreements

Covivio opted for hotel management agreements (HMAs) rather than traditional leases. Under an HMA, the owner retains revenue risk while paying a fee tied to the hotel’s performance, whereas a lease would give the operator a fixed rent regardless of results.

This structure suggests it believes the German market, especially the MICE‑driven conference segment in Leipzig, can generate upside beyond a fixed‑income alternative.

Gonzalo Carpintero Navarro, CEO of Odyssey Hotel Group, said the collaboration “marks a decisive milestone” and highlighted the company’s growing role as a “professional hotel manager trusted by leading institutional owners.” Bernardo Lazcano, managing director of ActivumSG, the private‑equity firm that fully owns Odyssey, added that the deal highlighted the operator’s ambition to manage complex assets for institutional investors.

The move comes as the hospitality sector continues to evolve, with owners seeking operators who can enhance performance and protect long‑term property value. By choosing HMAs, Covivio signals confidence in both the operator’s capabilities and the underlying market conditions.

From a broader perspective, this expansion mirrors a trend where pan‑European operators are consolidating fragmented assets to achieve scale. Similar moves in the past decade have shown that larger portfolios can negotiate better terms with brand partners and spread operational costs, though the success of such strategies depends heavily on local demand patterns.

All four hotels will continue operating under their existing brands—Westin (Marriott), Radisson Blu and Mercure (Accor)—while Odyssey assumes day‑to‑day management responsibilities. The transaction was handled entirely by Odyssey’s Development & Asset Management team, indicating the firm’s internal capacity to execute large‑scale deals on behalf of institutional investors.