To accelerate its growth strategy in The Netherlands and Europe, Mövenpick Hotels & Resorts signed a lease agreement with Germany-based real estate asset managers Deka Immobilien to operate a property in The Hague. The agreement for the 72-guestroom property was brokered with the involvement and advice of DLA Piper, RV&C/COG, corporate property specialists CBRE and JLL and legal firm Rechtstaete.
With The Hague property, Deka Immobilien also renewed its existing lease for the 408-guestroom Mövenpick Hotel Amsterdam City Centre for more than 30 years.
“Securing a lease for the Mövenpick Hotel The Hague not only bolsters our European expansion plans, but marks the first time we have signed a new hotel and renewed a lease for an existing hotel simultaneously,” Olivier Chavy, president & CEO, Mövenpick Hotels & Resorts, said in a statement.
The Mövenpick Hotel The Hague, which is due to open in the center of the city in 2019, will be developed in partnership with global design firm Wilson Associates NYC.
“We are strengthening our cluster of properties in The Netherlands as part of our ambitious European growth strategy. Our willingness to operate hotels under lease agreements in Europe is presenting us with significant expansion opportunities, particularly as investors welcome this type of investment model, and we are confident of achieving our development goals going forward,” Andrew Langdon, CDO, Mövenpick Hotels & Resorts, said in a statement.
Mövenpick Hotels & Resorts currently operates 20 properties in four European countries: Switzerland, where the company is headquartered, Germany, The Netherlands and Turkey. Its strategy is to sign agreements for at least four new projects in Europe every year as it looks to rapidly expand its portfolio. In addition to Mövenpick Hotel The Hague, the group recently signed lease agreements for the 262-key Mövenpick Congress Hotel Stuttgart in Germany and the 264-guestroom Mövenpick Hotel Basel in Switzerland. All three are set to open in 2019. Spearheading the company’s development plans in Europe is Amir Lababedi, who was recently appointed VP of development Europe & North Africa, a new role created to drive expansion across both high-growth potential regions.