Germany: Dublin-based aparthotel operator Staycity Group has acquired a majority stake in the Felix Group, owned by Munich-based real estate developer Denkmalneu Group (DMN).
The 74.9 per cent stake in Felix Group will see Staycity operate three aparthotels located in Leipzig, Dresden and Vienna. DMN will retain a shareholding in the properties.
Both the German aparthotels (Leipzig and Dresden), totalling 388 rooms, will be rebranded as Staycity Aparthotels. The 130-room Vienna site is currently under construction and will open under Staycity’s Wilde brand in Q2 2025.
Tom Walsh, CEO of Staycity, said: “We are thrilled at the prospect of operating aparthotels in the heart of these three beautiful European cities and very much look forward to working with the team at Denkmalneu as well as welcoming new colleagues from the Felix Group.
“As we near the end of 2024 I’m delighted that Staycity remains in a strong financial position, with high levels of liquidity and no net leverage. This enables us to continue seeking well-located aparthotel opportunities across Europe, with the DACH region of Germany, Austria and Switzerland being very much part of our strategic growth,” he added.
Thomas Scherer, CEO and founder of DMN, said: “We are delighted to place our hotels in the hands of a strong partner and look forward to a long-term partnership and an ambitious growth strategy. The synergies between DMN as a project developer and Staycity as an experienced operator form a strong foundation for a successful joint venture.”
Staycity currently operates 5,800 rooms across 35 aparthotels in France, Germany, Ireland, Italy and the UK. Its development pipeline will take the group’s portfolio to 10,000 keys, with plans to double in size by 2032.
In 2025 Staycity will open in Amsterdam, Cambridge, and an additional location in London, as well as debut in Portugal with a Wilde opening in Lisbon and Porto.
