IVG and the Vincent Hotel Group have announced that the 8,200-m² office building owned by IVG will be converted into a 252-room Holiday Inn Express Hotel. IVG and the Vincent Hotel Group signed a long-term agreement to this effect.
Hugo van Woerden, CEO, IVG Netherlands: "We are pleased to have signed this agreement with the Vincent Hotel Group. By doing this we will be able to give new purpose to this for the most part empty office building. A hotel on this strategic location has excellent prospects. At the same time we contribute to a solution to the structural office vacancy situation in Amsterdam."
The construction of the conversion of the office building has started immediately. The new Holiday Inn express Hotel will open its doors to the public towards the end of this year.
Bart van de Kamp, CEO of The Vincent Hotel Group: "This location is fantastic for a premium budget formula such as Holiday Inn Express. The connectivity both by car as by public transport is excellent: 11 minutes from Schiphol Airport and 5 minutes from the City Center. This will make the new Holiday Inn Express to a great alternative to the more expensive city center hotel locations".
This hotel is the second Holiday Inn Express announced by the The Vincent Hotel Group in a short period of time in the Amsterdam region. Earlier this year the Holiday Inn Express in Schiphol/Hoofddorp was opened and more hotels are announced and are in various stages of preparation.
Dirk Bakker, Director Hotels Colliers International: "Holiday Inn Express is a fantastic formula which proves itself worldwide as a leading premium budget brand. In the Amsterdam area it answers to a large demand for these kinds of hotel products".
IVG was assisted in this transaction by Jones Lang LaSalle. The Vincent Hotel Group and Dutch Hotel Partners were advised by Colliers International Hotels.
Source: Colliers International