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11,000 new rooms for the Hanseatic city

Hamburg, pearl on the Alster, gateway to the world. The city wants to make its mark even more in terms of tourism and the convention industry. Politicians, investors and the tourism association are all pulling together to leave other German cities even further behind.

The Accor Group will bring more than 800 new rooms to the Hanseatic city in Überseequartier by 2024. According to Christie & Co, hotel capacity will increase by 10 percent as early as 2022, adding around 3,500 rooms. According to the report, the entire pipeline for the next few years comprises 63 hotel projects with around 11,000 rooms. Yannick Wagner, Vice President Development Northern Europe at Accor: "Hamburg is an exciting hotel market for Accor. This assessment has been confirmed in recent years, when demand there recovered early from the slump caused by Corona. The market has held up really well, and we want to position ourselves broadly there and cover the full range of demand with our large brand portfolio."

In addition to Überseequartier (investment volume around 1 billion euros), which will house apartments and office buildings as well as the Accor Group with three hotels, the Elbtower, the tallest building in the north, is being built a stone's throw away in the middle of Hamburg and directly on the Elbe: 64 stories, 245 meters above the sea with a view of it. Investment volume also around 1 billion euros. The investor is real estate giant and Galeria Kaufhof boss René Benko. Although the man in his mid-forties is currently in trouble with the public prosecutor's office in his home country of Austria, construction of the Elbtower is progressing - and before Christmas, the second purchase price installment for the site still has to be transferred to the municipal Hafencity GmbH as owner.

Designed by the office of star architect David Chipperfield, the Elbtower will also house a hotel. Nobu Hospitality, the lifestyle brand founded by Nobu Matsuhisa, Robert De Niro and Meir Teper, will open its first German-wide property here in late 2025. Nobu Hotel Elbtower is to offer 191 rooms, a 200-seat restaurant, and a terrace bar and lounge overlooking the Elbe River.

DIANIUM COMMERCIAL, your partner for the brokerage of hand-picked hotel properties, is available to advise you in every area of the hotel industry.


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