The hotel market in Germany is reportedly facing a change: Within the next five years, the market structure will be newly organized, especially due to the aggressive expansions by international hotel chains. Currently, 389 new hotels are in the pipeline for Germany in total, reports TopHotelProjects.
The city of Hamburg is of note with 27 new projects, totaling investment of around 1 billion euros. Highlighted is the 130-room Fontenay hotel, scheduled to open mid next year, at a price tag of 100 million euros.
Hotel investments in Germany continue to grow. In the first quarter, volume reportedly increased to 3.74 billion euros, compared to the first quarter of the previous year (1.73 billion euros), reports CBRE.
Here is a list of new hotel projects in Germany:
New low budget hotel projects in Munich
In Munich, further budget hotels are planned. Meiniger Hotels will open a second property in late 2017, with 173 rooms close to the Olympic Park. Super 8 also plans its second location in Munich: the 197-room property is in Schwabing. Opening is scheduled for autumn 2016. The operator will be GS Hotel.
Marriott's Moxy and Residence Inn
The Swiss SV Group will operate a Moxy Hotel (150 rooms) as well as an adjacent Residence Inn by Marriott (72 rooms) in the so-called “Werksviertel”. Opening is planned for early-2017.
International Fonds is investing 25 million Euros into hotel construction project in Hamburg
REIT W.P.Carey is investing 25 million euros into the new building of a 207-room Innside by Melia Hotels, close to the central train station in Hamburg. The opening will take place in summer 2017.
Stuttgart in focus
Stuttgart is set for more rooms, including a Moxy Hotel will at the airport. GBI is developing the 176-room property and the Swiss SV Group will operate the hotel as franchise of Marriott. Opening will take place in spring 2017. In total, six Moxy Hotels are currently in the pipeline for Germany. The construction start is scheduled for autumn. And, the hotel will be built conventionally without any prefabricated parts. By the end of the year a Moxy Hotel will open at the airport in Munich. Early 2016, a Moxy Hotel in Eschborn near Frankfurt/Main will open its doors. In Gateway Gardens at the airport in Frankfurt another property by the brand will enter the market mid 2016. Furthermore, early next year a Moxy Hotel will open close to Berlin's east train station. In Essen a new property is taken into operation end of 2016.
Tourism boom in Berlin
Berlin remains a hot spot for hotel investment. The number of new hotel projects could rise up to 40. Currently, Berlin has 786 properties. The average occupancy rate increased slightly to 56.4 percent compared to the previous year and is thereof higher that it was the past 25 years.