Le Méridien Frankfurt Hotel is a freehold property that is located close to the main train station in the Frankfurt district of Bahnhofsviertel — the city centre of Frankfurt, and has an aggregate land size of approximately 4,405 square metres (sqm).
The hotel comprises two buildings, a historic part with a monumental status built in 1905 that has 80 rooms and a modern part built in the 1970s with 220 rooms. It also has 670 sqm of conference space with an extensive fitness and wellness area, and 48 parking spaces.
Mr Kwek Eik Sheng, CDL Group Chief Strategy Officer said, “As a major hub for commerce, tourism and transportation, Frankfurt is a compelling destination for acquisitions in Germany which is the largest economy in Europe. Moreover, with Brexit, hotels in Frankfurt will see increasing demand as businesses including banks are shifting their operations and activities to this German city.”
“More importantly, together with Tai Tak, CDL is pleased to support First Sponsor’s growth through this joint acquisition of a prime freehold hotel property in the city centre of Frankfurt. At the same time, it will also enable CDL to enhance our recurring income stream and enlarge our geographical footprint for strategic diversification. Earlier in the year, the CDL Group entered Munich through CDL Hospitality Trusts’ acquisition of Pullman Hotel Munich. With a strong balance sheet, CDL will continue to seek opportunities for new acquisitions and investments both locally and overseas.”