Germany: Commerz Real has appointed Staycity Group to operate an aparthotel at Speyerer Strasse 9 in Heidelberg, which is part of the hausInvest portfolio.
The 300-key property was built in 2018 and reopened on 31 May 2021. The previous lessee, Star Inn Gruppe, has filed for insolvency as a consequence of the pandemic, closing the hotel together with six other properties. The new lease agreement with Staycity has a term of 25 years.
“In Staycity we have been able to acquire a renowned operator of serviced apartments, which has also demonstrated the success and resilience of its business model in the current crisis,” said Dirk Schuldes, global head of hospitality at Commerz Real. “And it is impressive testimony not only to our robust asset management but also to the quality of our properties that they have been leased again so quickly even in a difficult environment.”
Tom Walsh, CEO of Staycity Group, said: “Historically Heidelberg is one of the best-performing hotel markets in Germany and equally popular with business and leisure travellers. We had always wanted to fly the flag in this university town which is well-known beyond the borders of Germany.”
Markus Beike, responsible for Staycity’s expansion in Germany, added: “After we had viewed a number of different locations in Heidelberg in recent years, we have finally hit the mark – an excellent addition to our growing portfolio in Germany.”
