Louvre Hotels Group, Paris, has partnered with Arcus Bauerrichtung GmbH, a German real estate construction group, and Redserve, an Austrian consulting firm specializing in international real estate development, to build a portfolio of 26 hotels in Germany, Austria and Switzerland by 2020 for a total investment of about €160 million (US$212 million).
The first development phase will focus on cities including Munich, Vienna, Salzburg, Basle and Zurich. Louvre and Arcus plan to open three to five new hotels each year, with the first expected to open in Munich in the fourth quarter of 2014.
Under the partnership, Arcus and Redserve will develop a sub brand of Tulip Inn hotels, “Tulip Inn Alp Style.” These hotels will be built around the ambiance typical of Alpine chalets and will be constructed sustainably using natural materials, local resources and energy-efficiency principles.
“We are extremely pleased with this partnership, which will enable us to accelerate our development in Germany, Austria and Switzerland, which are key markets for the group,” said Pierre-Frédéric Roulot, chairman of Louvre Hotels Group. “This partnership will begin with the construction of Tulip Inn hotels, but could later be extended to the group’s other brands, notably Golden Tulip, to respond to opportunities in the upmarket hotel segment.”