Union Investment has made its first foray in the resort hotel asset class by acquiring a Marriott Bonvoy Autograph Collection boutique hotel on Lake Tegernsee. Internal fit-out work is under way and should be completed in December 2022 in order for the hotel to open in March 2023. The buyer is a Union Investment special fund and the seller is a subsidiary of developer Planquadr.at, a Salzburg-based partner company of Soravia. The purchase price was not disclosed by the parties.
Located just 300 metres from Lake Tegernsee, the hotel will offer 100 double rooms, 11 junior suites, 14 standard suites, a 90-seat restaurant, a 180-seat rooftop bar, event facilities and a wellness area with pool. The architecture is unusual for the region, giving the leisure property a distinctive appearance and setting it apart from its local competitors.
The hotel is being built with sustainability considerations in mind, and LEED Gold certification will be pursued. A 20-year lease for the building has already been secured by Four Peaks Hospitality, a member of the Soravia Group. The hotel will operate under the name Caro & Selig, Tegernsee, Autograph Collection, a premium soft brand of Marriott Bonvoy.
Source: https://propertyeu.info/Nieuws/Union-Investment-makes-first-resort-hotel-acquisition/b04a892e-c4b9-4dcc-b79a-64a24bfc7c9f, on 8 November 2022