Art-Invest buys Maritim Hotel Cologne for €120m

By Dev Anand | 22 February 2018

Date: February 2018

Location: Heumarkt, Cologne, Germany

Name: Maritim Hotel Koln – four star

No of Keys: 454 (24 Suites), 22 conference rooms for 1600 people.

Seller: Commerz Real fund, a global player with interests in Pacific Beach Hotel, Honolulu, managed by Highgate Hotels of NY, USA, Star Inn Heidelberg, Ibis & Mercure hotels, Brisbane, Australia….and others

Buyer: Art Invest Real Estate. The Art-Invest Real Estate Group consists of several owner-managed companies. The shareholders of these companies are the managing partners and the Zech Group from Bremen. They own or are involved in several hotels in Germany such as Motel One Am Alexanderplatz in Berlin, Sofitel Hamburg, Steigenberger Bad Homburg, Le Meridien Parkhotel Frankfurt, Nikko Dusseldorf, Dorint Mannheim, Pullman Koln, Ruby Lilly Hotel Munich and others!

Maritim remain as management on a long-term lease

Price: €120m

Price per Key: €264,317

THPT Comment: Art Invest are serious players in the German Hotel (as well as office, retail & commercial real estate) scene…wonder if they will expand outside of Germany? as have Commerz Real, the sellers.

First Seen: Thomas Daily

 

Posted in Recent Deals