Switzerland: edyn has acquired the Hotel Ascot in Zurich, which it will convert to its Locke lifestyle aparthotel brand.
The property, due to open in Summer 2023, will be edyn’s first in Switzerland, and continues the rapid European expansion of the Locke brand, which launched in six new locations in 2021 including London, Cambridge, Dublin, and Munich.
The six-storey, 3,700 square metre property located in the Enge neighbourhood of the city, will be converted into 80 rooms, in a mix of studio and one-bedroom suites – alongside amenities including a restaurant, bar, and coffee shop. Interior designers Sella Concept will be tasked with “reflecting the cultural identity of Zurich through a distinctive and sophisticated aesthetic for the rooms and common areas”.
edyn has secured additional funding from Blackstone Mortgage Trust and KSL Capital Partners, extending its £195 million multi-asset debt facility to help facilitate this acquisition.
Locke currently has 11 trading properties and 1,768 trading keys across five markets.
Stephen McCall, edyn CEO, said: “We are excited to bring the Locke brand to Switzerland, as we continue our expansion across Europe. Zurich is a vibrant and culturally rich international hub, and the new location will fit in well with the city’s diverse and cosmopolitan community. We also look forward to continuing the spirit of elegance and creativity the Hotel Ascot site has become known for since it was built in 1954.”
