Real I.S. AG has purchased two hotels of the Hampton by Hilton and Premier Inn brands in Stuttgart, Germany.
Within the frame of a club deal for two pension schemes, the company acquired the hotels from a project company of the Matthäus Schmid construction group, based in Baltringen, Germany.
The parties have agreed not to disclose the price of the transaction.
Completed in 2021, the 300-room properties located on Wolframstrasse in Stuttgart offer an aggregate space of around 15,600 square metres. The hotels have a lobby, a lounge and a bar area, a back office, a breakfast restaurant, two lifts for guests and a total of 40 car parking spaces. In the Hampton by Hilton brand hotel, there are also a gym and a conference room. The space is divided into nine upper and two underground floors.
Axel Schulz, Global Head of Investment Management at Real I.S., comments on the acquisition: ‘Both hotels are centrally located in Stuttgart and have long-term lease agreements and operators with high credit ratings. After the reduction in demand and the heightened uncertainty prevalent at the beginning of the Covid-19 pandemic, we are now seeing an increasing pace of recovery in the hotel market.’
The two hotels are centrally located in Stuttgart’s Europaviertel quarter. Several shops and leisure facilities, as for example the Milaneo shopping centre and the city library on Mailänder Platz, are within walking distance. The main train station and the surrounding public transport links can be reached within a few minutes.