Deka Immobilien, the property investment arm of DekaBank, has bought a Courtyard by Marriott Hotel in Bremen for almost EUR 24mln from Hanover-based developer-owner Baumgruppe. The property will be added to Deka's open-ended Immobilienspezialfonds.
Deka Immobilien, the property investment arm of DekaBank, has bought a Courtyard by Marriott Hotel in Bremen for almost EUR 24mln from Hanover-based developer-owner Baumgruppe. The property will be added to Deka's open-ended Immobilienspezialfonds.
The 150-room mid-segment hotel occupies a listed building dating from 1913. It is to be further renovated with a six-storey extension due to be completed by end-2009.
Deka already owns hotels in major German cities, including the Sofitel and Maritim in Frankfurt, the Tiergarten Tower and Movenpick in Berlin and the Hilton in Cologne. Outside Germany it owns Meridien hotels in Barcelona and Vienna as well as a Holiday Inn in Paris, Jolly-Hotel in Brussels and a Movenpick in Amsterdam.
Courtyard by Marriott has 800 hotels worldwide focusing on business and leisure travellers.
