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Germany: Dublin-based aparthotel operator Staycity Group has signed a long-term lease agreement for a project in the Weisses Quarter of Munich.
The 11,000 square metre development will house 255 fully-equipped apartments. It will be branded under Staycity Aparthotels, which has been repositioned in the upscale segment.
“We have consistently developed and upgraded [the Staycity Aparthotels] brand over recent years,” said Andrew Fowler, CDO of Staycity Group. “The Weisses Quartier is the first location in Germany where we are rolling out this concept. The community aspect is particularly important to us — we don’t see ourselves as an isolated aparthotel, but as an active part of the neighbourhood, bringing urbanity and vibrancy to the surrounding area.”
Already operating in Berlin, Frankfurt, Heidelberg, Dresden and Leipzig, the Weisses Quartier property adds to Staycity’s German portfolio.
“Munich is one of the most important hotel markets in Germany and has long been a central part of our expansion strategy,” Fowler said. “Entering this market is a significant milestone for us. The Weisses Quartier, with its location, excellent accessibility and building quality, provides ideal conditions for our aparthotel concept.”
Legal advice was provided by Taylor Wessing and GSK Rechtsanwälte. CBRE acted as broker.
Highlights:
- Staycity has signed a long-term lease for a 255-unit aparthotel in Munich’s Weisses Quartier, marking the company’s first German location operating under its repositioned upscale Staycity Aparthotels brand.
- The 11,000 square metre development will feature fully-equipped apartments.
- Staycity already operates properties in Berlin, Frankfurt, Heidelberg, Dresden and Leipzig.
