The addition of the IntercityHotel marks Twenty14 Holdings entry into mainland Europe and joins a portfolio of $750mn worth of luxury home across the UK, the Middle East, and India. The goal-constructed, 260-space, four-star hotel will be positioned close to the Rümlang station, A1 motorway and gives great transport hyperlinks, which includes access to Zurich International Airport in ten minutes, although the city centre is just 15 minutes away. The home will consist of meeting and occasion spaces, a restaurant, an indoor fitness centre, and spa location as effectively as underground and outside parking facilities. The home is scheduled to open in 2020.
The hotel will be operated by Deutsche Hospitality (Steigenberger Hotels AG) beneath a 20-year lease contract. The style of the home will be primarily based on the new Intercity Hotels Matteo Thun style requirements, and maintaining in thoughts company travellers and vacationers, the home will function modern day guestrooms and public spaces.
The hotel is the initial of numerous improvement projects planned by Necron AG’s in cooperation with Deutsche Hospitality. HVS Hodges Ward Elliott acted as exclusive advisers to Necron. Commenting on the acquisition, Adeeb Ahamed, managing director, T14H stated, “We are excited to mark our entry into mainland Europe with our first property in Zurich. It is an important milestone in our group’s portfolio as we work towards becoming a billion-dollar investment firm by 2020.”
“This is an exciting hotel development and we are delighted to be working in partnership with both Twenty14 Holdings and Deutsche Hospitality. We very much hope this is the start of a successful long-term partnership with both,” stated Gerard van Liempt, CEO, Necron AG. “The IntercityHotel Zurich Airport launches our brand in Switzerland and adds a highly attractive location to the portfolio,” stated Thomas Willms, CEO, Deutsche Hospitality.
Information Source: Muscat Daily