Christie + Co sells former Mercure Hotel near Stuttgart

28 November 2005

Christie + Co recently sold a 200-bedroom 4-star hotel in Korntal-Münchingen, near Stuttgart, to a private investor. Christie + Co was instructed to sell the property following the expiration of a leasehold contract with Accor hotels.

The new owner is substantially investing in the property. All rooms will be newly furnished and fitted with air-conditioning before the hotel is re-launched under the “automotive” brand in December.

This latest deal follows a number of other corporate transactions competed by the German subsidiary of Christie + Co in the second half of this year. Other recent deals include the sale of Queens Hotels in Niefern and Velbert and the successful negotiation of a new 15-year leasehold contract on a 255-bedroom hotel with Dutch operator Golden Tulip.

Christie + Co’s German subsidiary has three offices, in Berlin, Frankfurt and Munich. “Our 14 hotel transaction specialists have successfully completed 60 transactions in the last 30 months,” says Christie + Co’s German Managing Director Markus Beike. In addition to transaction support services, the German team also offers advisory and valuation services. Recent work undertaken by the German valuation team includes an involvement in the recent major NPL transactions.

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For further information on this press release, please contact:

Markus Beike
Managing Director, Christie + Co GmbH
Bockenheimer Landstraße 93
60325 Frankfurt
Tel: 0049 - 69 - 90 74 57 0
Fax: 0049 - 69 - 90 74 57 10
markus.beike@christie.com