staycity group announces key acquisitions in Austria and Germany
DUBLIN, 20th NOVEMBER 2024: Leading aparthotel operator Staycity Group has announced the acquisition of a 74.9% stake in the Felix Group owned by Munich-based Denkmalneu, to operate three aparthotels, in Leipzig and Dresden in Germany and in the Austrian city of Vienna.
Both the Leipzig and Dresden aparthotels, with a total of 388 rooms, will be rebranded as Staycity Aparthotels while the 130-apartment property in Vienna, currently under construction, will open under Staycity’s lifestyle brand, Wilde, in the second quarter of 2025. The Denkmalneu Group (DMN) retains a shareholding in the properties.
Said Staycity Group CEO Tom Walsh: “We are thrilled at the prospect of operating aparthotels in the heart of these three beautiful European cities and very much look forward to working with the team at Denkmalneu as well as welcoming new colleagues from the Felix Group.”
Thomas Scherer, CEO and founder of DMN said: “We are delighted to place our hotels in the hands of a strong partner and look forward to a long-term partnership and an ambitious growth strategy. The synergies between DMN as a project developer and Staycity as an experienced operator form a strong foundation for a successful joint venture.”
The deal, for an undisclosed sum, furthers Dublin-based Staycity Group’s on-going European expansion.
The company currently operates 5,800 rooms in 35 aparthotels across France, Germany, Ireland, Italy and the UK with a development pipeline taking it to 10,000 keys. Further growth will see the group operate 20,000 apartments by 2032.
In 2025 Staycity will open in Amsterdam, Cambridge and an additional location in London as well as moving into Portugal for the first time, with a Wilde opening in both Lisbon and Porto.
“As we near the end of 2024 I’m delighted that Staycity remains in a strong financial position, with high levels of liquidity and no net leverage. This enables us to continue seeking well-located aparthotel opportunities across Europe, with the DACH region of Germany, Austria and Switzerland being very much part of our strategic growth,” added Tom Walsh.
Staycity Group is a privately held company, with a 13% shareholding held by the Irish Strategic Investment Fund (ISIF). Next year the company is forecast to deliver a turnover of €300m.
Staycity’s advisors for the deal were Taylor Wessing Hamburg, Grant Thornton, and PWC. Denkmalneu advisors were Sonntag & Partner, Samp Schilling and Deloitte.
About Staycity Group
Dublin-based Staycity Group was established in 2004 by CEO Tom Walsh and his brother Ger, who spotted a gap in the market for quality short- and longer-term stay apartments. Beginning with a single apartment in Dublin’s Temple Bar, Staycity now operates 5,800 aparthotel rooms in 35 aparthotels in 17 vibrant cities, appealing to both business and leisure travellers from across the globe. The aparthotels operate under the Staycity Aparthotels and Wilde brands and feature studio, one-bed and two-bed apartments, sleeping up to six people with fully fitted kitchens alongside space to dine, work and relax. All properties have a 24-hour reception with most having a guest lounge, café, bar, laundry room, gym and parking. Current locations include Berlin, Birmingham, Bordeaux, Dresden, Dublin, Edinburgh, Frankfurt, Heidelberg, Leipzig, Liverpool, London, Lyon, Manchester, Marseille, Paris, Venice and York with more exciting cities in the pipeline. The ethos of Staycity Group is anchored in five core values: curiosity, drive, collaboration, kindness and respect.
www.staycity.com www.wilde.com
About Denkmalneu Group
The Denkmalneu Group (DMN) is a German real estate developer specialising in commercial properties across the DACH region. Headquartered in southern Germany, the company was founded in 2011 and focuses on the conversion and development of commercial and mixed-use properties in prime inner-city locations. Over the years, DMN has successfully developed projects ranging from 30,000 to 100,000 square metres in high-demand areas. From 2011 to 2024, the group’s assets under management (AUM) reached up to €1.5 billion, reflecting its dedication to high-quality developments and strong partnerships.
In addition to real estate development, DMN has expanded into the hospitality sector, building a portfolio of three hotels (Dresden, Leipzig, Wien).
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