Design-focused serviced apartment brand Locke is set to open a property in Zurich in summer 2023.
Parent company the Edyn group has acquired the Hotel Ascot Zurich, with plans to convert it into a property under its Locke brand.
The six-floor, 3,700 sqm development is located in the Enge neighbourhood, 2km from the centre of Zurich. Once converted, it will feature interiors by Sella Concept, 80 rooms made up of studio and one-bed suites, a restaurant, bar and coffee shop.
This will mark Edyn’s debut in Switzerland and follows the Locke brand’s rapid expansion, with six new locations launched last year in cities such as London, Cambridge, Dublin and Munich.
Stephen McCall, CEO of Edyn, said:
“We are excited to bring the Locke brand to Switzerland, as we continue our expansion across Europe. Zurich is a vibrant and culturally rich international hub, and the new location will fit in well with the city’s diverse and cosmopolitan community. We also look forward to continuing the spirit of elegance and creativity the Hotel Ascot site has become known for since it was built in 1954.”
Edyn has acquired additional funding from Blackstone Mortgage Trust and KSL Capital Partners to extend its £195 million multi-asset debt facility to help facilitate this acquisition.
The Locke brand was launched in 2016, and is named after 17th century English philosopher and physician John Locke. It currently comprises 11 properties and 1,768 keys across five markets in the UK and mainland Europe.