Hamburg, 14.10.2022 – benchmark. REAL Estate GmbH (benchmark.) has sold the Double-Brand-Hotel “Kühnehöfe” with the brands Moxy and Residence-Inn-by Marriott in Hamburg. The real estate developer with headquarters in Frankfurt had already handed over the property in the street Kühnehöfe 8+10 to the operating company Odyssey Hotel Group in August 2021.
The property comprises 220 MOXY hotel rooms and 44 comfortable Residence Inn boarding house apartments with a combined lettable space of approximately 10,000 m². The building offers an underground car park with 79 parking spaces including 11 charging stations for electric cars as well as 20 bicycle parking spaces. The property is located in Hamburg Altona on the former Kühne KG company site and offers excellent connections to the motorway and the public transport system.
For Martin Hantel, managing partner at benchmark. REAL Estate, the asset class hotel remains very interesting: "The number of overnight stays in Germany has reached a high level again in 2022. Flexible hotel offers in attractive city district locations are still in demand even after the pandemic. Hotels in the midscale segment such as Moxy as well as long-stay concepts such as Residence Inn by Marriott meet the requirements of business and private travelers alike. Hotels in major metropolitan regions will therefore remain a profitable asset class in the long term."
Götz U. Hufenbach, managing partner at benchmark. REAL Estate, adds: "A successful transaction in the current market environment shows that top products in very attractive locations are success stories even in times of high economic uncertainty."
Christie & Co. and FPS Rechtsanwälte advised the seller on the transaction.