HOCHTIEF Projektentwicklung is building a 144-room hotel on Petriplatz in Berlin-Mitte. Construction will start at the end of this month. Frasers Hospitality bought the property off-plan and will start operating the hotel at the beginning of 2017. It was agreed that the purchase price would not be disclosed.
A seven-story building with an above-grade gross floor area of about 7,700 m² will be built on a lot of around 1,500 m² between Scharrenstrasse, Gertraudenstrasse and Breite Strasse. The lobby will feature a glass floor slab beneath which visitors will see an archaeological monument: the foundations of the vaulted cellars of old burgher houses on the former site of the Cölln Town Hall.
"Frasers Hospitality‘s long-stay concept is geared to the rising demand for temporary accommodation with all the comfort of a hotel in a premium business location. We are see a growing demand for this, particularly in Berlin," explains Gordon Gorski, Manager of the Berlin-Brandenburg branch of HOCHTIEF Projektentwicklung.