IHG and Germany-based Sirius Hospitality Holding have signed a deal to open the first Avid hotel in Germany. Representatives of both companies closed the deal at the International Hotel Investment Forum in Berlin this week.
The first Avid hotel signed in Germany will be located at Frankfurt Airport, the fourth-largest international airport in Europe and No. 14 worldwide. The hotel will be a five-story, new-build property with 215 guestrooms and underground parking. Construction is planned to start later this year and the hotel is expected to open in 2021.
Germany is one of five priority markets for IHG after a strong growth momentum since 2015, with 132 hotels already open or in the development pipeline. IHG is now looking to build further on this momentum, and is aiming to make the brand one of the company’s biggest in Germany.
The first step in realizing this ambition was the signing of a multiple development agreement with existing partner GS Star GmbH (GS Star) at Expo Real in Munich last October, committing to bring 15 Avid hotels to the German market. Sirius Hospitality Holding is now IHG’s second partner for the market.
In a statement, Mario Maxeiner, managing director Northern Europe at IHG, said that new hotel signings continue to exceed expectations for the company, with more than 170 signings across the U.S., Canada, Mexico and now Germany. “In Germany, we believe that the brand has the potential to be an important mainstream growth vehicle—with both compelling consumer demand and owner interest,” Maxeiner said.
Maike Liell, board member, Sirius Hospitality Holding, echoed the sentiment. “Through our previous developments we have seen the value that IHG’s systems and expertise can bring to a hotel owner. We are excited by the Avid hotels brand, which has already carved its own space in the American market and we can see how it can work here in Germany.”