Investors in the luxury hotel group Kempinski have harshly criticised the company’s strategy.
The shareholders disapprove of the planned sale of Hamburg’s Atlantic Hotel and the Gravenbruch in Frankfurt. They also condemned the lack of financial support coming from the group’s major shareholder, Thailand’s Siam Sindhorn Company.
Reto Wittwer, Kempinski’s vice chairman, defended the hotel sales, saying that the company was keen to concentrate its activities on hotel management.
Frankfurter Allgemeine Zeitung, 22 July, p18
