Union Investment buys Germany's Innside by Meliá Aachen

Innside by Meliá Aachen

Following the purchase of the Meliá Berlin, Union Investment is expanding in Germany by acquiring the Innside by Meliá Aachen for one of its real estate funds at an undisclosed price.

The property was developed and and sold by HPG Hotel Aachen GmbH & Co. KG, a limited partnership, one half of which is owned by HPG Property Group and the other half by Cebus GmbH & Co. KG. The new-build hotel, which is set to open in mid-2016 and is currently accepting reservations for early May, is fully leased on a 20-year program to Sol Meliá Deutschland GmbH, a wholly owned subsidiary of the Meliá Hotels International group. 

Dr. Christoph Schumacher, a member of the management team at Hamburg-based Union Investment Institutional Property GmbH, cited "growing demand in the Aachen hotel market" as a motivating factor for the sale. With other companies moving to the area, he expects demand to grow. 

Virtual Event

HOTEL OPTIMIZATION PART 2 | Now Available On-Demand

Survival in these times is highly dependent on a hotel's ability to quickly adapt and pivot their business to meet the current needs of travelers and the surrounding community. Join us for Optimization Part 2 – a FREE virtual event – as we bring together top players in the industry to discuss alternative uses when occupancy is down, ways to boost F&B revenue, how to help your staff adjust to new challenges and more, in a series of panels focused on how you can regain profitability during this crisis.


Source: Property Magazine International                        

Suggested Articles

Oxford Capital Group’s wholly owned affiliate, Oxford Hotels & Resorts, has taken over management of the properties.

The partnership with Black Salmon leverages both company's strengths across acquisitions, asset management and capital raising.

A new entity will combine a number of brands, including Hoxton, Gleneagles, Delano, SLS, Mondrian, SO/, Hyde, Mama Shelter, 25h and 21c Museum Hotels.