STEP Partners Europe GmbH took over the operational management of the Holiday Inn Express Baden-Baden with effect from 1 November 2026. The transaction for the established 108-room hotel was completed under a long-term lease agreement. The operational takeover took place without interrupting ongoing hotel operations and marks a strategic departure for STEP Partners: for the first time, the company is expanding its previously exclusively owner-based investment model to include a long-term lease structure.
The hotel was built in 2007 and benefits from a central location in Baden-Baden. The internationally renowned spa, cultural and tourism destination generates year-round strong demand from both the leisure and business travel segments. André Guettouche, partner and co-founder of STEP Partners Europe, explained that the property represents an ideal addition to the portfolio due to its location, the internationally established brand and its solid market position. The decision to enter into a leasehold model for the first time was therefore made deliberately for this location.
Expansion of cooperation with IHG Hotels & Resorts
The property will continue to operate unchanged under the Holiday Inn Express brand. STEP Partners is thus deepening its existing cooperation with IHG Hotels & Resorts. As part of its European expansion, the company had already integrated several properties of IHG brands in Belgium in 2024. The operational orientation in Baden-Baden centres on increasing guest satisfaction, establishing more efficient operating procedures and delivering sustainable economic performance.
As Guettouche set out, the company does not view hotel properties merely as real estate assets, but places the focus on their operational development. The approach combines many years of international industry experience with lean decision-making processes and a strict focus on quality, staff and profitability.
European expansion and transaction advisory
The commitment in Baden-Baden forms part of a comprehensive European growth strategy. STEP Partners focuses on existing hotels in economically strong markets where value can be unlocked through active management, targeted modernisations and bespoke brand strategies. Alongside Germany, the company is primarily active in Belgium. The overall portfolio comprises properties of established brands from Marriott, Hilton, IHG and Accor.
- —CBRE Hotels Development & Advisory Services Germany acted as advisor on the re-leasing of the hotel.
- —Watson Farley & Williams LLP provided legal advice to STEP Partners, led by partner Jörn Fingerhuth from the Munich office.
- —CMC Hospitality Software Ltd, under the leadership of Claudia Meglin, managed the operational takeover during ongoing operations.
The collaboration of all stakeholders involved, including the property owner and IHG Hotels & Resorts, facilitated a smooth transition in operational management.
