Select Group acquires hotel from Germany’s largest hotel developer
Dubai-based Select Group acquired the 344-room niu Air Frankfurt Hotel from GBI AG, Germany’s largest hotel developer.
Ideally located at Rebstock Park on Frankfurt’s Leonardo da Vinci Allee, the hotel is scheduled for completion in Q4, 2019.
Situated at the gateway to the exhibition grounds, the hotel will feature an innovative and open Living Lobby as a gathering place not only for hotel guests but also for locals. Catering to the modern traveller, all rooms are equipped with bluetooth boxes, numerous sockets, USB ports, smart flat screens, and high-speed Wi-Fi. An Instagram wall and background beats throughout the building are additional distinctive features of the brand.
Commenting on the purchase, Rahail Aslam, Group CEO, Select Group, stated: “We are very pleased with the addition of ‘niu Air Frankfurt’ to Select Group’s growing hospitality portfolio. This acquisition is in line with our strategy to invest in core European markets with a sound growth potential. The combination of GBI AG’s credible track record of delivery, Novum Hospitality Group’s expertise in hotel operations and the hotel’s strategic location, being in close proximity to major demand drivers such as the Frankfurt Messe and airport, will certainly place niu
Air Frankfurt as a destination of choice for the discerning consumer and a great showcase for the exciting ‘Niu’ brand.”
Reiner Nittka, CEO of GBI AG, said: “This is an impressive endorsement of how attractive the hotels developed by GBI AG in Germany have become for real estate companies operating worldwide. Choosing us from a global selection
speaks for a high real estate and investment quality.'”