IREMIS has acquired the Novotel Freiburg am Konzerthaus from Deka Immobilien as part of its investment strategy. Following an extensive refurbishment phase, the property will reopen under the Scandic brand in autumn 2027 and is secured by a new, long-term lease. This transaction underscores the focus of the IREMIS Hotel Real Estate Fund I on high-quality hotel properties in dynamic cities within the Eurozone.
The hotel property boasts 219 rooms, a restaurant and bar, dedicated conference facilities, and a wellness and spa area. It is distinguished by its prominent location at the entrance to Freiburg's pedestrian zone and historic old town. Its immediate proximity to the city's Konzerthaus further enhances the attractiveness of the site. The strategic positioning aligns with the fund's requirements.
Strategic investment in Freiburg
According to IREMIS, Freiburg perfectly matches the fund's investment strategy. The city combines characteristics such as its status as a university town, a developed innovation ecosystem focusing on future technologies, a broad-based regional economy, and strong demand in the leisure sector. At the same time, opportunities for new hotel developments in Freiburg are limited, which further enhances the value of acquiring this existing property.
The upcoming refurbishment and modernisation of the property aims to renew its fabric while improving sustainability aspects. The reopening under the Scandic brand is intended to establish the hotel as a leading address in Freiburg. Scandic has an established network of approximately 320 hotels in Europe, 12 of which are already operational or under development in Germany.
Long-term repositioning
Peter Lenhardt, Head of Hotel & Leisure at IREMIS, stated that Freiburg's status as a university city, its strong regional economy, and its attractive leisure and tourism market ensure diversified year-round demand. He described the acquisition as an important step towards building a focused portfolio of high-quality hotel properties. IREMIS, together with Scandic, sees considerable potential to establish the hotel as a leading address in the city.
Jens Mathiesen, President and CEO of the Scandic Hotels Group, highlighted that this acquisition represents an important step in their growth trajectory in Germany and is an example of value creation through partnerships. He emphasised that Freiburg is an attractive city with stable year-round demand, and the hotel's location offers excellent conditions for establishing Scandic in a new German location for business and leisure travellers. Following the "Barceló Dresden Newa", this is the second investment of the IREMIS Hotel Real Estate Fund I.
