The multi-family office DERECO has combined forces with REVITALIS REAL ESTATE for a Hampton by Hilton hotel project to be developed in Kiel. Like other ongoing projects, it will be implemented by the two partners as a joint venture where REVITALIS will be responsible for operations whereas DERECO provides equity.

On the basis of plans by MPP MEDING PLAN + PROJEKT GmbH, an architectural firm from Hamburg, a premium-economy hotel branded HAMPTON BY HILTON will be built on a 2,700-sqm plot. The hotel is going to cover 8,000 sqm of gross floor space (208 rooms). The 13-floor hotel will be 45 metres high. It’s going to be highly relevant for the Sparkassen-Arena nearby where over 100 events attracting some 500,000 visitors are organised each year. It is expected that these visitors will provide for basic utilisation of the hotel to the tune of approx. 25%. On the Kiel accommodation market, dominated by two- and four-star hotels, the premium-economy hotel is likely to be accepted as a welcome alternative option.

Uwe Wanger, Managing Director of Kiel Marketing e.V., says: “Tourism has been and will be one of the most important drivers of the state of Schleswig-Holstein and its capital, Kiel. Since bookings have gone up for the past ten years, Kiel has been building up a reputation as a holiday and leisure resort. By and large, the new HAMPTON BY HILTON is an important component to develop and secure high-quality accommodation in Kiel. The HILTON brand is the largest hotel chain in the world with a high number of regular guests. Therefore, we’re positively expecting more international guests in our city in future.”

The building permit is expected to be granted by Q2, 2018. According to the JV partners, the project is scheduled for completion by late 2020. Project volume totals approx. €28m.

Consultancy services have been provided by Taylor Wessing, Berlin, and Drees & Sommer, Dusseldorf.