1 July 2020, Road Town, Tortola, BVI
EPH European Property Holdings ("EPH" or the "Company") announces the acquisition of the hotel property in Salzgasse 4 in Dresden which is occupied by 4-star Hotel Innside Dresden of Melia Hotels & Resorts Group from Norpexal Holding SA & Fibona GmbH. The hotel is situated in the city's historic Old Town right next to the famous Frauenkirche. The parties to the transaction agreed to not disclose the acquisition price to the public. Closing of the acquisition will take place tomorrow. This is the Company's second hotel acquisition in 2020 completing the acquisition of nhow Hotel in Berlin in April 2020.
The property in Dresden comprises an area of 15,550 sqm. with a total of 180 rooms, 46 underground parking spaces, a spa, restaurant, 261 sqm. of retail space and meeting rooms for up to 230 people. It was developed, planned and built by the Wiesbaden based Developer FIBONA 10 years ago and is located in the historic centre of Dresden on the southern bank of River Elbe, very close to the main city attractions and Dresden Airport.
The hotel is home to the award-winning international Twist Bar on the 6th floor as well as the modern, elegant VEN Restaurant. It is right next to the impressive baroque Frauenkirche and across from the Albertinum art museum. The world-famous Zwinger and historic Semper Opera House are just 500 metres away. The hotel provides modern rooms, ranging from a standard room right up to the premium two-floor studios with a rooftop view overlooking the Old Town.
The hotel is wholly rented out to Meliá Hotels International, one of the largest operators in Spain with a strong global presence, which currently operates 374 hotels in 40 countries. The current lease runs until December 2029, with two five-year extension options.
In terms of sustainability, the hotel is a pioneer - it was the first hotel in Germany to receive the LEED Gold Certificate for "Existing Buildings".
Dresden is the capital of the German state of Saxony and is one of Germany's largest university and college cities. In 2019, its GDP growth was 1.2% (2019) compared to the German national average growth of 0.6%. The city is a popular tourist destination in Germany both for domestic and international visitors, due to its extensive amenities and architecture ranging from a beautiful, historic city centre to its baroque churches and museums. In 2019, Dresden recorded 2.3m arrivals and 4.7m overnight stays, an increase of 3.1% and 1.6% respectively on the previous year.
This acquisition is the latest in EPH's on-going strategy to diversify its portfolio across major Western European markets, adding attractive real estate investments in stable markets with a strong long-term economic outlook. EPH believes that the long-term outlook of both the economy and tourism industry in Dresden makes this a desirable asset and its addition to the EPH portfolio will create long-term value for the Company's shareholders.
EPH European Property Holdings Ltd. is an investment company listed on SIX Stock Exchange which holds an extensive property portfolio with a total value of around EUR 1.3 billion. As part of its geographical diversification and strategic intentions to stablise values and cash flows, the company currently invests exclusively in Western Europe. EPH is managed by Valartis International Ltd. a wholly-owned subsidiary of Valartis Group AG.
Additional information on EPH European Property Holdings is available by contacting Anna Bernhart Tel: +41 44 503 5400 or at contact@europeanpropertyholdings.com.
Attachment
- 200701 Press Release - Acquisition Innside Dresden final (https://ml-eu.globenewswire.com/Resource/Download/54e4eac3-2ff1-4d16-b126-c468022895f2)
