Acting on behalf of a private owner, Christie + Co has sold the leasehold interest of the Hotel Columbus in Bremen, Germany, to Star Inn Hotels Group, the European hotel operator, for an undisclosed sum.
The 3-star hotel, which is situated near Bremen’s central railway station, comprises 148 bedrooms, several function rooms, restaurants and a sauna.
The property, which was formerly operated under Accor’s Mercure brand, will now be operated under the Star Inn brand and will be extensively renovated over the next few months.
The hotel becomes the sixth to be operated by Star Inn in Germany. The company also operates two hotels in Austria and a further property in Budapest, Hungary. It also has another two hotels under development which are set to open in the region in 2012.
Paul Garai, Managing Director of Star Inn Hotels, said: “The deal went very smoothly and we are glad to have taken over an excellent team.”
Philipp Kraneis, Director and Head of Investment Germany, said: “Despite the challenging market it only took four months to secure Star Inn Hotels as the new operator of the Hotel Columbus, which proves that transactions are still possible, provided the conditions are favourable. Leasehold deals in particular are easier to realise since they involve less capital being tied up than with freehold deals.
“We believe this deal will prove beneficial to both the private owner and Star Inn.”