Golden Tulip Takes Over The Management Of Golden Tulip Rüsselheim
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Golden Tulip Takes Over The Management Of Golden Tulip Rüsselheim
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Category: Europe
This is a press release selected by our editorial committee and published online for free on 2007-09-21
Golden Tulip Hospitality Group adds its 10th hotel to its hotel management portfolio in Germany and 65th worldwide.
Golden Tulip Hospitality is proud to announce the signing of a lease agreement for Golden Tulip Rüsselheim effective as per September 1st 2007.
The Golden Tulip Rüsselheim is owned by EuroTrade Hotels Europe III B.V. and has been with Golden Tulip under a franchise agreement since 2000.
From left to right: Hans Kennedie, President & CEO of Golden Tulip Hospitality Group and Harry Blik, Director of EuroTrade Hotels Europe III.
The Golden Tulip Rüsselheim is a First Class Hotel on the outskirts of Frankfurt in Ruesselsheim, located in a business district 8 minutes from the airport. The hotel offers 84 rooms in junior suite size (minimum 27-33 square meters). The hotel styling and technical facilities meet the high expectations of today business travelers. The location is conveniently reachable from the airport and the main cities in the area (Frankfurt, Mainz and Wiesbaden). The hotel offers free parking access, Rest and Jet offers, car rental and return on request.
Amit Biel, Senior Partner EuroTrade comments: "the composition of our portfolio assures the absolute return approach, very low risk to our investment and high potential for future gains. We seek to enlarge our portfolio while keeping our discipline for investment criteria".
Hans Kennedie, President & CEO of Golden Tulip Hospitality Group, adds: “We are extremely pleased with the addition of Golden Tulip Rüsselheim to our Hotel Management portfolio. This hotel has been with Golden Tulip under a franchise agreement for over 7 years and we look forward to implementing our management formula and its continuous positioning in the hospitality world.”
Harry Blik, Director of EuroTrade Hotels Europe III B.V. comments: “We are delighted to sign a lease agreement with Golden Tulip Hospitality Management. In today’s climate, there is a strong need for rationalizing hotel operations and with the international recognition of Golden Tulip, I feel that Golden Tulip Rüsselheim will be in good hands and will continue delivering positive returns and subsequently increase its property value:”
Golden Tulip’s portfolio in the Central European region comprises of 18 hotels under franchise and management, located in prime locations such as Berlin, Frankfurt, Hamburg, Munich, Prague and Vienna.
About EuroTrade
EuroTrade Hotels BV is a fully owned subsidiary of Eurotrade real Estate International (YNB) Ltd, ("ETRE") an Israeli corporation which its securities are publicly traded at the Tel Aviv Stock Exchange. ETRE focuses on acquiring and adding value to its income producing assets portfolio in Europe mainly. ETRE is managed by Amit Biel as Chairman and Boaz Kamar as CEO.
ETRE strategy is to invest in long term leased asset which reflect low risk with adequate return and potential upside. Its portfolio of 50,000 Sq meter characterized by low risk to its investment and yielding around 8% net (NOI).
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