The Chocolate on the Pillow Group (COTP) has announced the acquisition of a lease and franchise agreement for the Holiday Inn Express Kassel. This marks the third hotel project that COTP is incorporating into its portfolio from the insolvency estate of the Revo Hospitality Group. The property is currently under construction and will be completed in cooperation with the owner, Volksbank Kassel Göttingen eG. This acquisition positions an international hotel brand for the first time in a market segment considered economically strong but underserved in terms of hotels, strategically ahead of documenta 2027.
The acquisition in Kassel is part of COTP's consistent growth strategy, which specifically targets opportunities in promising markets. Following successful projects in Hamburg and Augsburg, Kassel is the third integration of this type. In contrast to the aforementioned properties, which were acquired as ongoing operations, COTP is entering an ongoing construction project in Kassel. The company is overseeing the completion of the hotel together with Volksbank Kassel Göttingen eG, from the planning of the interior fit-out and technical equipment to full commissioning. The ability to take over projects in advanced stages of realisation and successfully bring them to opening has already been demonstrated with the TRIBE acquisition in Baden-Baden.
The Holiday Inn Express Kassel is being built in the Volksbank Kassel Göttingen property on Kurfürstenstraße, in immediate walking distance to Kassel Central Station and the axis to the city centre. The hotel will comprise 176 rooms, including 44 long-stay suites, four conference rooms and 16 underground parking spaces. Approximately 80 additional parking spaces are also available in the bank's adjoining multi-storey car park. Volksbank Kassel Göttingen acts as landlord and owner and will hold the building in its own portfolio long-term. In addition to hotel operations, the property also integrates the bank's own seminar and event spaces.
- —Location: Kurfürstenstraße, Kassel, near Central Station
- —Number of rooms: 176, of which 44 are long-stay suites
- —Conference rooms: 4
- —Parking spaces: 16 underground parking spaces, approximately 80 more nearby
Kassel, as an economic hub in Northern Hesse, benefits from companies such as one of Europe's largest VW plants, SMA Solar Technology and an active defence cluster. At the same time, the hotel market in Kassel has so far been little influenced by international hotel brands. With the Holiday Inn Express, COTP positions itself as the first global franchise hotel brand with the aim of taking a leading position at the location. The opening is scheduled for March 2027, before documenta 16, which takes place from June to September 2027 and generates a significant increase in demand every five years.
Through its collaboration on the Holiday Inn Express Kassel, COTP deepens its strategic partnership with IHG Hotels & Resorts. This project expands COTP's commitment to the IHG brand portfolio, particularly with the Holiday Inn and Holiday Inn Express brands, which stand for standards and an international guest experience. Erik Florvaag, CEO and Managing Partner of The Chocolate on the Pillow Group, commented that Kassel is more than just another hotel for the company; it represents consciously managed growth. The group now manages over 6,000 rooms in 34 hotels, with eight having been acquired as ongoing operations and four more under construction in the past year alone. This broad capability, from operational takeovers to entering ongoing construction projects, characterises COTP's strategy.
