A three-facility complex for Schroders Capital located on Alexanderplatz, a central location in the city of Berlin.
Schroders Capital is the private equity branch of the Schroders Group, which has 19 offices worldwide and operates across a broad spectrum of asset classes.
Together with Capital France Hotel, the hotel investment branch managed by the investment fund's hotel real estate team, Schroders Capital has completed the acquisition of the major hotel complex. Capital France Hotel currently owns several hotels in Europe including the Pullman Bercy, the Saint Regis in Venice, the Westin Palace in Milan, the Radisson Paris in Boulogne and the Marriott Monaco in Cap d'Ail.
This acquisition is the result of the Schroders Capital hotel team's belief in the recovery of tourism and corporate demand, which will also extend its presence in one of Europe's strongest markets.
Centrally located in the Mitte district on one of Berlin's main squares, the three-property complex is set in an environment with significant development potential. New residential and office space is being planned not far from Alexanderplatz.
The complex currently comprise a Holiday Inn, a Hotel Indigo and an Auberge One80° and has a total of 527 rooms. The two hotels will be transferred to the Whitbread Group under the Premier Inn banner, while the operation of the hostel will remain with the seller in the form of a long-term lease.
“Berlin is one of the most important target markets for us in Germany and Alexanderplatz is the centre of the capital with many important sights, restaurants and shopping opportunities in walking distance. With its great architecture and high visibility, it perfectly complements our hotel in Berlin West. We are very much looking forward to convert the two hotels into Germany’s largest Premier Inn with 403 rooms.” Chris-Norman Sauer, Acquisitions Director Germany, Premier Inn.
“Schroders Capital’s real estate hotels team is excited to start working with Whitbread on this first project. We have been very impressed by the success of the Premier Inn brand, first in the UK and now in Germany. Their unique know-how in hotel management and marketing has been instrumental in this achievement. ”
“[…] completed in a time frame of only five weeks, also demonstrates our commitment to delivering and conducting transactions in the most efficient and straightforward way.” Stéphane Obadia, Head of Hotel Investments, Schroders Capital.