Union Investment from Germany has announced to have entered the resort hotel sector. The investment arm of the DZ Bank Group has acquired the Marriott Bonvoy Autograph Collection boutique hotel on Lake Tegernsee in southern Germany.
The company will carry out interior refurbishment work on the hotel before reopening it in the spring of 2023. The hotel will have 100 double rooms, 11 junior suites, 14 standard suites, a 90-seat restaurant, a rooftop bar with a capacity to host 180 people, event facilities and a wellness area with a pool. In respect of the environment, the hotel will aim to achieve LEED Gold certification. The hotel will operate under the name Caro & Selig, Tegernsee, Autograph Collection.
Since the pandemic, the company has continued to invest in hotel real estate. Its overall portfolio now consists of 90 properties with an estimated total value of €6.7 billion. In hotel real estate, the resort segment has been booming for decades now. This specific real estate asset class has demonstrated its ability to withstand crises and has proven its resilience during the Covid-19 pandemic. New concepts and the constant operator professionalization are attracting institutional investors ‘attention even more.
