Joint Venture Between Kingstone Capital AG Switzerland and Versorgungswerk der Zahnärzte Berlin (VZB) Comes to an End
Gravity Capital Hong Kong becomes the new shareholder. The transaction was completed on 30 June 2026, marking the conclusion of the former joint venture structure with VZB.
ZURICH, Aug. 11, 2026 /PRNewswire/ -- Following the takeover of its subsidiary in the United Arab Emirates by Gravity Capital, Kingstone Capital AG Switzerland has fully exited the former joint venture structure with the Versorgungswerk der Zahnärzte Berlin (VZB). The UAE entity held a 70.3% stake in Grand Metropolitan Hotels Holding B.V. in the Netherlands and served as the investment platform for the joint venture.
Also effective 30 June 2026, the directors of the former Grand Metropolitan Hotels Holding B.V. and the members of its Supervisory Board resigned from their respective positions. In addition, the company lost the right to use the Grand Metropolitan name and will operate in the future under the name Gravity Capital Hospitality.
For the international hotel management and brand group Grand Metropolitan Hotels, the change in ownership represents one key outcome: the Group could separate itself from the JV and will now focus entirely on executing its international growth strategy on an independent basis.
Through the takeover of Kingstone Capital UAE, Gravity Capital has indirectly acquired the former 70.3% shareholding in Grand Metropolitan Hotels Holding B.V., the Dutch BV company of the former joint venture. The transaction relates solely to this indirect shareholding.
Kingstone Capital Holding AG (Switzerland) remains an unchanged strategic investor in the Grand Metropolitan Hotels Group and will continue to support the Group's international expansion in line with its long-term corporate strategy, entirely outside the former joint venture structure.
Gravity Capital is an internationally active investment company focusing on technology-driven businesses, intellectual property, software solutions and investments across the tourism, medical, real estate and hospitality sectors. As part of the transaction, Gravity Capital acquired the majority interests in the hospitality technology companies Genesis AI, Room Hub and Xenios. The company has since been renamed Gravity Hospitality Holding and has appointed a new executive management team.
Independently of this transaction, Grand Metropolitan 1931 AG, a wholly owned subsidiary of Kingstone Capital AG Switzerland and the worldwide owner of the Grand Metropolitan trademark rights, has terminated the licence permitting the Dutch joint venture company to use the Grand Metropolitan Hotels brand.
It remains to be seen how the future financing of the joint venture—previously funded exclusively by Kingstone Capital Switzerland as a result of the difficulties surrounding the VZB—will be arranged between the new shareholders.
"When we established the joint venture, we were convinced that we had found a reliable and long-term partner in VZB. However, the developments of recent months have demonstrated that continuing the partnership was no longer feasible," said Martin R. Smura, Founder of the Grand Metropolitan Hotels Group.
According to the company, the joint venture had been in a prolonged state of deadlock after several proposed solutions between the shareholders failed to gain mutual support. These included proposals for the reciprocal acquisition of each party's shareholding as well as a proposed capital increase. In addition, several key corporate resolutions could not be implemented.
"We sincerely regret this development. Our common objective was to build and develop this investment over the long term. However, once it became clear that there was no longer a viable basis for cooperation, separation became the only logical course of action," added Martin R. Smura.
With the completion of the transaction, Grand Metropolitan Hotels considers the separation from the former joint venture structure to be concluded and is now fully focused on the continued expansion of its international hotel management and brand business.
The Group remains committed to its asset-light strategy, concentrating on hotel management, branding, franchising, affiliations and digital hospitality solutions. Future growth will continue to be supported by strategic investments from Kingstone Capital Holding AG (Switzerland).
At the same time, Grand Metropolitan Hotels is advancing the next phase of its international expansion. According to the company, the Group is currently in exclusive negotiations to acquire another business in the hotel affiliation sector. An announcement is expected in September 2026.
Gravity Capital Limited is an internationally focused investment company specialising in high-growth sectors including artificial intelligence, biotechnology, medical services and the development of digital platforms. Within the hospitality industry, Gravity Capital combines technological expertise with an international network to support the development, digital transformation and scalable growth of hospitality brands.
About Grand Metropolitan Hotels
Grand Metropolitan Hotels is an international hotel management and brand group operating an asset-light business model. The Group provides hotel owners and investors with services in the areas of branding, hotel management, franchising, affiliations and digital solutions for hotel operations. Its portfolio includes TOP INTERNATIONAL Hotels, Voile d'Or Hotels & Resorts, Signature Hotels, Park Avenue Hotels, Grand Metropolitan Hotels, Private Selection Hotels, as well as additional brands and strategic investments. The Grand Metropolitan Hotels Group is wholly owned by Kingstone Capital AG Switzerland, the Group's family holding company.
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