Frasers Hospitality to splurge $89.6m on third German property

It’s slated to open in 2018.

Frasers Hospitality, the hospitality arm of Frasers Centrepoint Group, has unveiled its latest property in Germany’s second largest city, Hamburg, an iconic heritage building which will be transformed into a five star luxury all suites hotel aimed at business travellers on short and extended stays.

Scheduled to open in 2018, the total cost of investment of the property, including acquisition and refurbishment cost is approximately SGD89.6 million (EUR56 million).

This property marks Frasers Hospitality’s entry into its 50th city and its third property in Germany after the addition of Capri by Fraser Frankfurt and Capri by Fraser Berlin, which are due to open in 2015 and 2016 respectively.