CBRE Advises Dalata Hotel Group plc on First Hotel in Continental Europe
Global real estate advisor, CBRE, has advised Dalata Hotel Group plc (“Dalata”) on acquiring the operating and leasehold interest in Hotel Nikko Düsseldorf from Art Invest Real Estate.
The hotel is owned by Art Invest and Dalata has agreed a new operating lease which is expected to commence in February 2022. This hotel represents Dalata’s first step into the Continental European market and is in line with the Group’s ambition to establish a presence in large commercially attractive European cities.
The four-star hotel is centrally located in Düsseldorf, in close proximity to the Central Business District, the Retail Quarter and the city’s main train station. The property has 393 bedrooms, a bar, two restaurants, a spa, swimming pool, gym and extensive conference and meeting facilities. The hotel has undergone extensive investment in the last number of years.
Düsseldorf is one of Germany’s ‘big seven’ cities and is a hugely popular destination for both international and domestic visitors, travelling for both leisure and business purposes. It received over three million visitors in 2019 recording more than five million overnight stays in that year.
The rent, with a guaranteed minimum, is determined by the revenue performance of the hotel. The lease term is 20 years, with two five-year extension options.
Having been active in the UK and Ireland market for many years, it is incredibly exciting to see our longstanding client, Dalata, moving into the Continental European market. The Nikko is a landmark hotel making it an excellent choice for Dalata’s first hotel offering in the region.