Art-Invest Real Estate has successfully re-leased two hotel properties from its own portfolio following the insolvency of the previous operator. These steps led to a substantial improvement in operator quality for the properties in Kiel and Hamburg-Barmbek.
Motel One was secured as a long-term tenant for the project in Kiel. The hotel in Hamburg-Barmbek will be operated in future by a joint venture, which has comprised The Chocolate on the Pillow Group and Accor since 2021. These re-lettings sustainably stabilise and strengthen the market positioning of both properties.
The hotel in Kiel will be integrated into the Motel One Group portfolio. This integration provides the location with access to an international sales platform and a precise, demand-oriented brand strategy. As part of the takeover, the Motel One Group plans a comprehensive refurbishment of the property. The aim is to align the hotel with the group's established design, quality, and service standards.
At the Hamburg-Barmbek location, the existing positioning under the ibis Styles brand from the Accor portfolio will be maintained. Operational management by The Chocolate on the Pillow Group, within the framework of the joint venture with Accor, ensures that the establishment is run by an experienced operator. Simultaneously, a closer integration with Accor's international sales and loyalty platform will take place, which is intended to increase operational efficiency and market reach.
Dr. Peter Ebertz, Managing Director and Head of Hotels at Art-Invest Real Estate, stated that the successful re-letting of the two hotels in a challenging market environment validates the company's proactive asset management approach. He emphasised the importance of a deep understanding of the operational side of the hotel business, as well as the speed with which viable solutions could be developed and implemented in the interest of investors. The re-lettings are the result of a marketing process initiated at an early stage. Art-Invest Real Estate specifically approached operators and optimally tailored the respective concepts to the specific locations. Legal advice was provided by GSK Stockmann.
