Invesco Real Estate acquires recently opened Holiday Inn in Düsseldorf
Invesco Real Estate (IRE), a global real estate investment manager, has acquired the Holiday Inn in the “Le Quartier Central” district of Düsseldorf for one of its German separate account mandates.
Fabian Manegold, Senior Director – Transactions at IRE, comments: “We are very pleased with the acquisition of this prestigious inner-city hotel in Düsseldorf. Düsseldorf is one of the leading hotel locations in Germany and distinguishes itself by broad demand among business travellers and tourists. The German hotel market is developing very positively with a 3% increase in overnight stays compared with the previous year, and a record investment volume of more than €5bn was achieved in 2016. This is also reflected in the rising demand from investors for this interesting asset class.”
The newly-constructed, high-quality hotel is situated in the new and attractive Le Quartier Central district, one of the biggest urban development areas in the state of North Rhine-Westphalia. “Le Quartier Central” is a high-quality location, has access to good transport connections and is close to the city centre and Düsseldorf’s fairgrounds.