German real estate developer Hochtief Projektentwicklung has sold the Height4 hotel development in Hamburg to UK investor Whitbread.
Construction work on the 185-room hotel is expected to start by the end of the year and the building is due to open in summer 2018 as part of the Hamburg Heights urban regeneration of the former Spiegel island. The transaction price was not disclosed.
Whitbread, which is the UK's biggest hospitality group, said it planned to launch the scheme as a Premier Inn-brand hotel. Premier Inn GmbH is the German sister company of the UK hotel market leader and is also part of the Whitbread group.
The hotel will have 36 parking spaces in the Hamburg Heights underground garage.
