HUB Portfolio - Transaction & Asset Management
With the acquisition of four German InterCityHotel properties in February 2018, the Oman-based investor, Al Zaman Group of Companies, was able to extend and strengthen its European real estate portfolio and take over four hotels located in key primary and secondary markets in Germany. The portfolio, previously owned by Invesco Real Estate for three years, comprises a total of 868 keys operated on the basis of 30-year hybrid leas-es with the well-known German hotel operator, Deutsche Hospitality. In total, Al Zaman Group of Companies now owns five InterCityHotel properties in the regions of Frankfurt Airport, Mainz, Darmstadt, Rostock as well as in Enschede, the Netherlands.
InterCityHotel is one of the core brands by Deutsche Hospitality concentrating on primary and secondary markets, preferably located next to main railway stations or airports. The brand and its range of services address both leisure guests and business travelers. The new InterCityHotel design was created by the interior designer Matteo Thun and is quite competitive on the three- to four-star hotel market for city travelers. Feuring has been advising the buyer on this important transaction right from the beginning. After the successful closing, Feuring took on the asset management mandate for the five-property-portfolio and works closely together with the management of each hotel. One year after the acquisition of the portfolio, our work in cooperation with Al Zaman Group of Companies is showing promising results and, especially in view of the planned modernisations on the properties, is expected to enhance the value of the portfolio.
Feuring’s asset management duties include taking care of the properties’ maintenance, repairs and refurbishments, as well as setting up regular re-ports on operations and lease performance. Feuring’s role as asset manager has resulted in a close collaboration with the directors of each property, making it possible to maintain the hotels’ yields in line with the budget. Moreover, Feuring is assisting in establishing corporate set-ups, in financing the properties and in dealing with any other special owner requests related to the hotels. We greatly appreciate the good relationship be-tween Al Zaman Group of Companies and Feuring and look forward to offering our services in other attractive future projects.