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Dalata Hotel Group has announced its first steps into the Continental European market through agreed contracts with Art-Invest Real Estate to acquire a new operating leasehold interest in Hotel Nikko Düsseldorf.
The hotel has commenced the transition process today and expects to open the hotel for guests on 15 February.
The 4-star hotel is located 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.
According to the firm, the hotel has undergone “extensive investment” in the last number of years.
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 tenant extension options.
Dalata Hotel Group was advised by CBRE on this transaction.
Dermot Crowley, Dalata Hotel Group CEO, 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.
“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.”
Peter Ebertz, head of hotels at Art-Invest, added: “We are very excited to enter into a long-term partnership with Dalata to support our continuous efforts in improving the quality
and positioning of the Nikko Hotel, a true Düsseldorf icon. Dalata has been an excellent partner and we look forward to jointly investing in the property.”
