Ireland’s Dalata Hotel Group has announced that it has agreed terms with Art-Invest Real Estate to acquire an operating leasehold interest in the Hotel Nikko Düsseldorf, in Germany.
Details
In a statement published on its website, Dalata announced that it has started the transition process for the Art-Invest-owned hotel, and that it expects to open it to the public on 15 February.
The Hotel Nikko Düsseldorf, which is Dalata’s first hotel in Continental Europe, is a four-star venue that includes 393 bedrooms, a bar, two restaurants, a spa, a swimming pool, a gym, and conference and meeting facilities.
The lease term is 20 years, with two five-year tenant extension options, and CBRE has advised Dalata on the transaction.
Dalata CEO Statement
The statement published on Dalata’s website, announcing the aforementioned news, included a statement from its CEO, Dermot Crowley, in which he said, “This announcement represents our first step into Continental Europe and is a very exciting opportunity, as we work towards building our presence in selected European cities. Whilst retaining our focus on growth in the UK, we have also been exploring opportunities in Europe that are complementary to our portfolio in the UK and Ireland.
“I am especially pleased to have secured our first hotel in Germany in such a central location, in Düsseldorf. Hotel Nikko Düsseldorf will be an excellent addition to our Dalata portfolio. A Dalata integration team is working with the local hotel team to ensure a smooth transition into Dalata.
“This is also the first time we have partnered with Art-Invest, and we are delighted to have collaborated successfully with one of Europe’s leading hotel investors. We both will continue to invest in the property, to ensure it retains its position as one of the top hotels in the city.
“We are grateful to CBRE Hotels Germany and Ireland for their support in aiding our entry into a new market. We look forward to working with them again on future opportunities in Europe.”
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