For hotel operators and investors, Hamburg is Germany’s hotspot, and a far more attractive hospitality market than, for instance, the Bavarian capital. At the banks of the Elbe river, all important performance values are well above the national average. According to the Office of Statistics North, the city enjoyed a 2.3 per cent growth to 5.1 million guests from from January to October 2014. In the same time, the number of overnight stays in Hamburg’s 348 registered accommodation establishments with a total of 52,500 beds grew by y 2.6 per cent to 10,147,000 nights. Even though the average room rate fell by 0.1 per cent to 102 euros, the average yield per available room rose to 80 euro in Hamburg, STR Global reports.
High in Demand: Apartments With Hotel Services
A major growth factor in Germany, and also in Hamburg is a segment of “Serviced Apartments”, which is quickly developing. One of the pioneers is the financially were potent Ascott Group of Singapore, which recently opened in Hamburg a serviced apartment hotel of its Citadines brand with 127 studios and apartments. Also at home in Singapore is Frasers Hospitality Group, which plans to to convert Hamburg’s heritage-listed regional tax office into a luxury suite hotel with 140 apartments and studios. Since 2014, SMARTments has been offering fully-furnished temporary residences to business travelers, who do not wish for any additional hotel services. According to an overview of the Hamburg Tourismus Board, 24 new hotel building projects with more than 4,200 rooms are currently in the planning, development or under construction in Hamburg. Ten of them are expected to open in 2015, including the Marc’O City Apartments “Neuländer Quarree” with 100 rooms.
Significant Range Expansion in The Three And Four-Star Category
After the expansion in the budget range in the past years, current investments focus in the upscale and luxury segments. Highlights include:
• 25h Guesthouse Altes Hafenamt (50 rooms)
• Innside Melia Hamburg HafenCity (205 rooms, 4 stars)
• Grand City Hotel Hamburg (300 rooms, 3 stars): early 2015
• Marc’O City Appartments “Neuländer Quarree” (100 rooms): March 2015
• Ramada Hammerbrook (256 rooms, 4 stars): September 2015
• Sporthotel Othmarschen (276 rooms), 3 stars): mid-2015
• Sir Nikolai Hotel Hamburg (94 rooms, 4 star S): 3rd quarter of 2015
• Stadthaushotel Hafencity (90 rooms, 3stars): mid-2015
• JUFA Campus Futura HafenCity (220 rooms, 3stars): December 2015
Also for private investors, the Hamburg hotel market is extremely attractive. Take, for instance, the Hamburg Logistics billionaire Michael Kühne, who is currently investing 100 million euro into the luxury hotel “The Fontenay” with 130 rooms and suites, gourmet restaurant, and a large spa area with infinity pool offer for around 100 million euros on the plot of the former Hotel Intercontinental on the right banks of the Outer Alster lake. The official opening of Hamburg’s new landmark is scheduled for 2016. On the left side of the Outer Alster Lake, Hotel Atlantic recently changed hands. Acquired by Bernhard großer Broermann, owner of the Asklepios Group of clinics, the five star hotel with 245 rooms will continue to be managed by Kempinski, but be used to create synergies with Asklepios.
source and further details:
Overview of hotel projects planned in Hamburg: www.hamburg-tourism.de/fileadmin/redaktion/Monitoring/141217_Hotelprojektliste_DEUTSCH.pdf