Europe’s oldest luxury hotel operator, Kempinski Hotels, will launch a new lifestyle brand in partnership with German investment firm 12.18. Group. The two partners have joined forces to create one of the leading lifestyle hotel products in the luxury segment, called 7Pines Kempinski.
Kempinski Hotels has 78 hotels in 34 countries and is renowned for the highest standards of quality and service throughout the world. The 12.18. Group has made a name for itself in recent years as an investor, project developer and in the modernisation of hotels and restaurants. The company’s flagship asset is the 7Pines Resort on the west coast of Ibiza, which was opened last year.
In addition to its know-how in managing first-class luxury hotels, 7Pines also benefits from access to the international network and the extensive distribution channels of Kempinski Hotels. To promote the expansion, 7Pines Hotel Management Gmbh has been founded and is based in Düsseldorf.
With the development of 7Pines Kempinski, 12.18. wants to grow by 20 new hotels and resorts by 2022 and, in cooperation with institutional investors, place €500 million in investment capital. As part of the expansion course, 12.18. is also expanding its portfolio outside Europe for the first time, acquiring San Carlos Hotel in New York City. After thorough renovations, the San Carlos Hotel will operate as the 7Pines Kempinski Manhattan.
“The acquisition of the first property in the US represents a milestone in our company’s history,” commented Jörg Lindner, Co-Managing Partner of 12.18. Investment Management.
“New York has always been a dream destination for Kempinski Hotels and this important partnership makes it a reality,” said Martin R. Smura, Chief Executive Officer and Chairman of the Board of Kempinski Hotels.
“Kempinski is now represented in New York and at the heart of Manhattan and we look forward to welcoming the first guests to this vibrant metropolis.”
Lead image: From left to right: Carsten Rath, Chairman of the Supervisory Board of 12.18. Investment Management GmbH; Martin R. Smura, Chief Executive Officer and Chairman of the Management Board of Kempinski Hotels; Tim Raue, founder and CEO of Restaurant Tim Raue; Kai Richter, Managing Partner of 12.18. Investment Management GmbH; Jörg Lindner, Managing Partner of 12.18 Investment Management GmbH and Markus Lück, Managing Director of 7Pines Hotel Management GmbH.
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