IBB Hotels and Von der Heyden Group jointly announced that Von der Heyden Group has become through an additional purchase of shares the 70% majority shareholder in IBB Hotels, a Spanish origin hotel chain that has been successfully operating on the Spanish, Polish and German markets.

In 2001 Von der Heyden Group, a pan-European investor and developer acquired 25,5% of the shares in IBB Hotels, followed by an increase to 40% in 2005, to 50% in 2007 and now to 70% in 2008.

IBB Hotels was founded in 1992 by Damian Llull in Menorca, entered the Polish market in 2002 as the first Spanish hotel chain in Poland. IBB Hotels commenced its operations in one of the most beautiful heritage buildings in Lublin, the four star de-luxe Grand Hotel Lublinianka.

The common values shared by the developer and the hotel operator such as top quality individual approach and care for detail allow for an excellent teamwork between the two companies. A strategic plan for the future has been developed to increase the portfolio in Spain, Poland and Germany by opening in each of those countries one new hotel per year. At the same time, IBB Hotels will look for new destinations including in Asia. To support the plan a new corporate image has been created for IBB Hotels Brand.

Sven von der Heyden, Chairman of Von der Heyden Group, said: "We have always felt a particular love for Hotel business and for the IBB Brand as such. Given the strengthening our capital base of the company, IBB is now able to grow to a different category Hotel Operator. IBB's strength is a human and professional approach in doing business with Hotel Owners, our care for detail and our hands-on cost management. The stronger link between the two firms will shorten even more communication lines and increase efficiencies within the group."

Angel Llull, Managing Director of IBB Hotels in Poland and Germany, said: "Von der Heyden Group entered IBB company a few years ago buying part of the shares. That was a very important step as it created good synergies and opened new markets. Now with the increase of the participation in the company, it will allow to develop the company faster, better and quicker. It is very important for IBB Hotels to have the support and knowledge of Von der Heyden Group in order to achieve the future goals."