Louvre Hotels Group has signed a strategic partnership with ARCUS Bauerrichtung GmbH, a German real estate construction group and Redserve, an Austrian consulting firm specialized in the development of international real estate projects.
The partnership aims to build a portfolio of 26 hotels in Germany, Austria and Switzerland by 2020 for a total investment of about €160 million. The first development phase will place priority on locations in major regional cities such as Munich, Vienna, Salzburg, Basle and Zurich.
Louvre Hotels Group and ARCUS plan to pursue a dynamic development strategy over the next seven years with the opening of three to five new hotels each year. The first hotel developed under the partnership will be inaugurated in Dachau, Germany in the fourth quarter of 2014.
As part of this partnership, ARCUS and Redserve will develop a sub brand of Tulip Inn hotels operating under the ‘Tulip Inn Alp Style’ label.
Using the ‘Tulip Inn Alp Style’ label, the partners intend to develop modern and functional hotels built around the warm ambiance typical of Alpine chalets. The concept, developed by Redserve, is based on the idea of transmitting ideas of traditional alpine hospitality, holiday associations to the guests of the ‘Tulip Inn Alp Style’. Next to an outstanding quality of architectural design the hotels will be constructed in a highly sustainable manner, using natural materials, focusing on local resources and which are based on energy efficiency principles. The concept will furthermore offer authentic, family-style services at competitive prices, highlighting the excellent quality-price trade-off of the ‘Tulip Inn Alp Style’ label.
After expanding rapidly in Eastern Europe in recent years, this partnership will enable Louvre Hotels Group to strengthen its presence in Central Europe, where the Group now has 14 hotels.
Pierre-Frédéric Roulot, Chairman of Louvre Hotels Group, stated: “We are extremely pleased with this partnership, which will enable us to accelerate our development in Germany, Austria and Switzerland, which are key markets for the Group. This partnership will begin with the construction of Tulip Inn hotels, but could later be extended to the Group’s other brands, notably Golden Tulip, to respond to opportunities in the upmarket hotel segment.”
Manuel Geiger, Managing Director of ARCUS Bauerrichtung GmbH, added: “ARCUS is extremely proud to have finalized the contracts and entered into a long-term cooperation with this internationally renowned hotel operator. This collaboration additionally secures the trust and confidence of the co-investors and safeguards the funding.”
Thomas Oberhofer, Managing Director of Redserve GmbH, noted: “Our new hotel product “Tulip Inn Alp Style” perfectly relates to Louvres slogan International standards – Local flavours as it perfectly suits our alpine origin. Today is a memorable day for Redserve as the milestone of signing this contract marks the beginning of a yearlong and trend-setting cooperation with a major player in the international tourism industry.“
Source: Louvre Hotels Group