Dorint AG
Dorint AG, one of the largest German hotel chains with 2006 revenues of approximately €560 million, maintains a portfolio comprised of 93 hotels and resorts. With nearly 7,000 employees and properties located primarily in Germany, but also in other European countries, Dorint operates under the Dorint Sofitel, Dorint Novotel, Mercure, and Dorint Resorts brand names. Historically, Dorint's hotel portfolio had suffered from low operating profit margins combined with high, above market rents for many of its hotel properties.
Dorint hired A&M to advise the company and its shareholders on the company's strategic options. A&M professionals were subsequently appointed to interim management roles, serving as CFO and CRO. As a result of A&M’s involvement, Dorint successfully concluded a restructuring whereby it spun off of 41 Dorint Hotels to Ebertz & Partner and achieved reduced rents for some of the hotels remaining with the company. The Dorint restructuring, led by A&M, is expected to improve the Company's profit by €32 million as the company is projected to record a €10 million profit in 2007 compared to a €22 million loss in 2006.
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