Prizeotel Erfurt-City to open as the second joint hotel between Rezidor Hotel Group and prizeotel - Insights

Prizeotel Erfurt-City to open as the second joint hotel between Rezidor Hotel Group and prizeotel

rezidorThe Rezidor Hotel Group and prizeotel are proud to announce their second joint hotel project in Erfurt, Eastern Germany, only a couple of days after announcing the signing of the prizeotel Bern, Switzerland. This new signing shows evidence of Rezidor’s rapid expansion plans with prizeotel. The prizeotel Erfurt-City, featuring 208 rooms, will open its doors in 2019 at a location with a direct connection to Erfurt central train station, at the start of the urban development project ‘ICE City’.

prizeotel’s founder and CEO, Marco Nussbaum, said: “I am very pleased to bring our second joint project to market, within eight months of the announcement of our partnership with The Rezidor Hotel Group. Our cooperation is already bearing fruit and demonstrates the growing appeal of the prizeotel brand for guests as well as for investors”. prizeotel operates 555 hotel rooms in Bremen, Hamburg and Hanover with ambitions to grow across Switzerland, Germany, Austria and the Benelux countries.

Elie Younes, Executive Vice President and Chief Development Officer of Rezidor sees enormous growth potential in the economy segment. “Together with prizeotel, we want to drive qualitative growth in the market, and offer a bold and innovative brand to our guests. In terms of values and brand DNA, prizeotel fits very well with Rezidor, giving us the necessary credibility and speed to develop and operate successfully in the economy segment.”

The May & Co. Group from Itzehoe (Schleswig-Holstein), partner of prizeotel, acquired the approx. 4,000m2 inner-city property from the Landesentwicklungsgesellschaft Thüringen mbH (LEG Thüringen) to build prizeotel Erfurt. The architecture firm Lorenzen Architekten GmbH from Berlin will act as planning architect. May & Co. plan to submit the building application by the end of the year, with the total investment totalling around EUR 16 million.

The Rezidor Hotel Group owns 49% of prizeotel, with an option to acquire the remaining 51% in four years’ time. “The joint project in Erfurt heralds the start of our ambitious expansion strategy in the economy segment across Europe,” added Younes.

All prizeotels are designed by New York-based designer Karim Rashid. The brand concept embraces urban design, innovative and guest-friendly technology (including free high-speed Internet, mobile check-in), modern design and unconventional service for business and leisure and guests.

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