Thursday, December 14, 2023
The greater Nuremberg area, boasting around 1.3 million residents, ranks as the second-largest metropolitan region in Bavaria. This region has witnessed significant growth in recent years, with numerous international technology and innovation firms setting up shop, driving demand in both the corporate and meeting sectors. Nuremberg is also increasingly attracting leisure travelers who are enticed by the city’s rich cultural heritage and the major events held in close proximity to the hotel.
“This marks another stride in our efforts to expand within the German market. The acquisition presents an outstanding opportunity for growth, given the hotel’s strategic location and recent property renovations that align with the growing demands of both corporate and leisure travelers. I am especially pleased to see our longstanding partnership with our largest landlord, Pandox, continue to flourish,” states Jens Mathiesen, President & CEO of Scandic Hotels Group.
“It’s truly exciting to see our footprint in Germany expand, further solidifying Scandic’s presence in the European hotel market. This hotel is a valuable addition to our portfolio, enhancing our offerings for business travelers seeking venues for larger meetings and events. Alongside my colleagues, I eagerly anticipate the opening of Scandic’s inaugural Nuremberg hotel, in a city that is evolving into a pivotal financial hub and investing in a promising future,” remarks Michel Schutzbach, Head of Europe at Scandic Hotels.
Throughout the renovation, Pandox also directed investments towards technical and sustainability improvements. In early 2023, the Nordic Swan Ecolabel, the official ecolabel of the Nordic region, was introduced in Germany. This development allows Scandic’s German hotels to embark on the path towards Nordic Swan Ecolabel certification, with the new hotel’s operations slated for certification following the takeover.
“We extend a warm welcome to Scandic as the tenant of our newly renovated and centrally located hotel property in Nuremberg. This lease agreement underscores our ability to enhance the value of underperforming hotel properties in an international context through acquisitions, development, and improvements. It serves as a testament to our model, wherein we leverage our deep understanding of the hotel industry and property expertise to transform properties based on their unique characteristics. With this agreement, we mark a significant milestone in the property’s value journey, and we eagerly anticipate collaborating with Scandic to further enhance both the hotel product and property value,” notes Liia Nõu, CEO of Pandox.
The new hotel will operate under the Scandic brand, bringing Scandic’s total count to seven hotels in Germany, offering a combined total of 2,461 rooms following the takeover.
Tags: germany, Nuremberg Hotel, Scandic Hotels
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