Select Group, Dubai have acquired niu Air Frankfurt Hotel, a 344-room hotel currently under construction, from Germany’s largest hotel developer, GBI AG. The hotel is expected to be completed in 2019.
In a prime location close to popular exhibition grounds, the hotel will feature an innovative and open Living Lobby as a place for guests and locals to gather. An Instagram wall and background beats will also be featured as additional distinctive features of the brand. Innovative and equipped to cater to the needs of modern travellers, each room has Bluetooth boxes, USB ports, numerous power sockets, smart televisions and high-speed Wifi.
“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,” said Rahail Aslam, group chief executive officer of Select Group.
“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,” said CEO of GBI AG, Reiner Nittka.
PwC’s European Cities Hotel Forecast shows room revenues in Frankfurt increased 3.7 percent in 2017 to 85 euros and revenues are predicted to continue to rise over the next two years.
Its location inspired the name of the niu Air Frankfurt hotel at the Leonardo da Vince Allee and its surroundings. The name is a tribute to the country’s aviation pioneers, a theme that has been incorporated into the contemporary interior design of the hotel – inspired by first aviation experiments.
