#corporate-expansion

#corporate-expansion

A major hotel operator with properties in Austria has filed for bankruptcy proceedings covering around 140 of its companies, with more than 100 establishments affected. The Revo Hospitality Group said all hotels would continue operating, but it has not yet specified which Austrian sites are included, according to Kleine Zeitung. The filing was made at the Charlottenburg district court in Germany and covers roughly 140 group companies, including 125 hotels employing around 5,500 people in Germany and Austria.

As part of Nintendo's latest earnings briefing, the company said it is open to spending some of its cash reserves on a variety of business functions, including buying game developers. Nintendo said it wants to spend money to invest in strengthening its game development pipeline, and this includes acquiring companies to make them subsidiaries. Nintendo historically does not buy many companies, but it's something the company would consider under the right conditions.