Mandarin Oriental International Limited will expand and enhance its property in Munich by constructing a mixed-use complex on an adjacent site.
Expected to open in 2021, the development in Mandarin Oriental, Munich will consist of new hotel rooms as well as facilities. In addition, the project will include a refurbishment of the property’s existing 73 rooms, at a cost of €124 million (US$170 million).
The mixed-use complex will comprise two buildings of some 23,000 sqm. They will jointly house new hotel rooms and facilities, as well as 19 Residences at Mandarin Oriental properties, retail units, commercial offices and underground parking. One of the new buildings will connect directly to the existing hotel via an underground tunnel.
Mandarin Oriental will own 100 per cent of the freehold interest in the land and buildings of the new hotel annex, that comprises of 51 additional guestrooms, a restaurant and bar, spa, fitness centre and swimming pool, hotel back of house facilities and 10 underground car parking spaces.
Meanwhile, project developer partner Wohr + Bauer GmbH (W+B) will retain 100 per cent control of the remaining land and buildings, comprising 19 Residences and Mandarin Oriental (until sold), a third party operated restaurant, commercial offices, retail outlets and underground car parking lots.
Edouard Ettedgui, group chief executive of Mandarin Oriental, said, “This project creates a rare opportunity to expand one of Mandarin Oriental’s best performing assets, and further strengthen Mandarin Oriental, Munich’s market leading position in this strategically important German city.”
For more information, visit www.mandarinoriental.com