STEP Partners Europe GmbH took over the operational management of the Holiday Inn Express Baden-Baden with effect from 1 November 2026. The transaction comprises an established 108-room hotel, which will be continued under a long-term lease agreement. The handover took place entirely during ongoing operations and marks a strategic progression for the hotel company.
Built in 2007, the hotel is situated in a central location within the traditional spa and cultural town of Baden-Baden. The location benefits equally from leisure guests and business travellers. While STEP Partners has previously focused its business model on owner-operated hotel investments and affiliated operational management, this property marks the company's first venture into a pure lease arrangement.
Strategic portfolio addition and brand partnership
By continuing the Holiday Inn Express brand, the operator deepens its collaboration with IHG Hotels & Resorts. Back in 2024, STEP Partners had already integrated several properties under IHG brands in Belgium into its portfolio as part of its European expansion. André Guettouche, partner and co-founder of STEP Partners Europe, based the decision on the prime location, the international brand recognition, and the hotel's solid market standing.
The operational direction aims to continually enhance guest satisfaction, optimise operating processes, and sustainably secure the commercial viability of the location. According to company management, STEP Partners sees itself not merely as a real estate player, but focuses strongly on operational progression through short decision-making paths, many years of sector experience, and a clear focus on quality and employees.
European expansion and transaction advisory
The acquisition in Baden-Baden fits into the company's long-term growth strategy. STEP Partners concentrates on existing properties in European markets where active management, targeted modernisations, and brand strategies can unlock additional earnings potential. Alongside Germany, the company is primarily present in Belgium and operates hotels belonging to renowned chains such as Marriott, Hilton, IHG, and Accor.
The re-leasing process and operational handover were supported by several specialist advisers. On the brokerage and consultancy side, dedicated professionals contributed to implementing the lease agreement:
- —CBRE Hotels Development & Advisory Services Germany supported the re-leasing process.
- —Watson Farley & Williams LLP provided legal advice to STEP Partners, led by Jörn Fingerhuth, partner in the Munich office.
- —CMC Hospitality Software Ltd, led by Claudia Meglin, supported the operational handover on site.
- —The process was conducted in coordination with IHG Hotels & Resorts and the property owner.
