AURELIUS sells two hotel properties in Munich
- Buyer to act as long-term landlord for both GHOTEL locations
- Disposal of the entire hotel property portfolio now successfully completed
- Strong contribution to profits in the high double-digit millions
Munich, December 11, 2015 – The AURELIUS Group (ISIN DE000A0JK2A8) is announcing the sale of hotel properties in the Isarvorstadt and Nymphenburg districts of Munich to a real-estate multi-family office. The ownership rights are scheduled for transfer by the end of the year.
AURELIUS had acquired the two properties from Deutsche Annington in exceptional circumstances at the beginning of 2011 together with three further hotel premises in Munich, Hanover and Braunschweig. The premises in the Glockenbachviertel district of Munich and Hanover were sold in August and November 2015 respectively, and the location in Braunschweig had already been disposed of in 2012. The restructuring and sale of the hotel property portfolio has thus been successfully completed, generating a strong contribution to profits at AURELIUS in the high double-digit millions in the current fiscal year, 2015. The idea is for the AURELIUS shareholders to enjoy the fruits of this in the form of a participation dividend.
Under the terms of the sales agreements, long-term leases have been concluded with GHOTEL hotel & living for the establishments that have just been sold and the Hanover location. The GHOTEL Group is advancing its expansion strategy with the continued operation of the three successful hotel premises and the reopening scheduled for 2017 of the hotel in Essen, which is currently being completed right by the main train station. Over recent years, GHOTEL has already successfully positioned itself in the promising 3-star business segment by reopening hotels in Koblenz (2010) and Würzburg (2013). There are also plans to open more hotels at attractive locations in Germany going forward. Jens Lehmann, Managing Director of GHOTEL GmbH, has this to say about the expansion plans: “Above all well-connected locations in up-and-coming cities provide opportunities for us to strengthen the GHOTEL Group with more establishments.”
At the same time, the AURELIUS Executive Board has reaffirmed its forecast for total EBITDA to exceed EUR 220 million in the current fiscal year, 2015, to set yet another new record in the history of the company.