PATRIZIA Immobilien AG has sold two Holiday Inn hotel properties in Essen and Neu-Isenburg on behalf of its special fund ‘PATRIZIA Hotel-Invest Deutschland I’.
The 4-star Holiday Inn in Essen was built in 1996 and offers 168 rooms. The property in Neu-Isenburg, also 4-star rated, was built in 1994 and has 164 rooms. Both properties underwent renovation in 2013/2014.
Jan-Hendrik Jessen, Head of Fund Management Operated Properties at PATRIZIA, commented: “The sale of these assets is part of our portfolio optimisation strategy. The fund now manages EUR 330 million of hotel assets while, across Europe, PATRIZIA manages almost EUR 1 billion of assets in the hotel sector making us one of the leading providers in this asset class.”
