Revo Hospitality Group, the largest hotel operator in Europe, has declared bankruptcy, potentially affecting 260 hotels spread across 12 countries.

Since its inception in 2008, the company has expanded its presence to operate in 146 cities worldwide.

Revo’s diverse portfolio includes properties under well-known franchises like Hilton, Accor, and Marriott, along with its own brands such as Hyperion and Aedenlife.

The company has cited the ongoing ‘economic crisis’ as the reason for its insolvency, noting that 140 affiliated companies are experiencing significant challenges.

Additionally, Revo has pointed to escalating costs as a factor in its financial troubles, including increased wages, rent, energy, and food expenses.

The change will affect some 140 companies that exist under the group.

However, the 125 hotels based in Germany and Austria won’t be impacted by the move. 

According to Metro Revo, formerly known as HR Group, said: ‘Around 140 companies belonging to the REVO Hospitality Group have filed for insolvency under their own management at Charlottenburg District Court.

It has a range of properties – some operating under franchises such as Hilton, Accor and Marriott, while others are under its own brands like Hyperion and Aedenlife 

Revo has reportedly declared insolvency due to the ‘economic crisis’, also stating a range of other reasons for its difficulties including wage increases and a rise in other operational costs including ‘rent, energy and food’. Pictured: A Revo Aparthotel in Frankfurt

‘The approximately 125 hotels in Germany and Austria will continue to operate with all 5,500 employees.

‘The proceedings will be supervised by court-appointed administrators.’

The statement added: ‘Above all, the strong expansion of the Revo Hospitality Group in recent years led to duplicate structures and integration problems.’ 

The Daily Mail has approached Revo Hospitality Group for comment. 

Last year, the company acquired ten hotels from H World International, and three properties by Steigenberger.

It also made the move to add H-Hotels to its collection, bringing in more than 60 properties in various European destinations. 

Other hotel companies have experienced trouble recently too. 

Earlier this month, UK travel company Regen Central Ltd, which sold flights and hotel packages, ceased trading. It comes after the company recently went into liquidation. 

Regen Central Ltd previously operated in Europe, South East Asia and the Middle East.

It will affect some 140 companies that exist under the group. However, the 125 hotels based in Germany and Austria won’t be impacted by the move 

The announcement on the ATOL failures page said: ‘We understand the company had no outstanding ATOL-protected bookings.’

This means that, as there are no outstanding ATOL-protected bookings, no refunds will be issued.

The page adds: ‘Bookings sold as accommodation only, non-flight packages, and flight only bookings for which tickets were issued are not protected by the ATOL scheme.

‘If you believe you are owed a refund for an ATOL protected booking, under Regen Central Ltd.’s ATOL, please contact us via email at claims@caa.co.uk.’

Meanwhile, Ickenham Travel Group ceased trading as an Atol holder on November 20, the Civil Aviation Authority announced. 

On the CAA’s Atol failures page, it said the company – which is based in London – traded under the names Abu Dhabi Holidays, Ras Al Khaimah Holidays and Letsgo2.

It also functioned under the websites www.ickenhamtravel.co.uk, www.letsgo2.com, www.rasalkhaimahholidays.com, www.abudhabiholidays.co.uk,  www.jaresortholidays.com, www.justallinclusive.com and www.ickenhamtravel.com.