ACHAT Hotel- und Immobilienbetriebsgesellschaft mbH, based in Mannheim, is a leading operator of value and budget hotels at strategically selected locations in Germany. The company is positioned in the mid to high-range segment. ACHAT currently manages 27 hotels in Germany, one in Austria and one in Hungary, and a further hotel in Leipzig, eastern Germany, is currently being built. Since its foundation in the Rhine-Neckar region in 1991, the Group has continuously expanded - in recent times averaging one additional hotel each year. Many of the hotels are located in medium sized or small cities, or in the vicinity of major conurbations.