IREMIS acquires Pullman Hotel in Dresden, marking key milestone for IREMIS Hotel Real Estate Fund I

IREMIS, a Luxembourg-based real estate investment manager, has announced the acquisition of the Pullman Hotel in Dresden from Covivio Hotels for approximately €30.5 million. The purchase was made on behalf of IREMIS’s first dedicated hotel fund, the IREMIS Hotel Real Estate Fund I. The property, a 4-star hotel with 319 rooms, dining facilities, and conference amenities, will undergo a comprehensive renovation. Once refurbished, the hotel will operate under a long-term lease with the Barceló Hotel Group, a global hospitality brand managing over 300 properties worldwide.

This acquisition aligns with IREMIS’s strategy to invest in high-quality, value-add hotel properties in prime urban locations across the Eurozone. Initially branded as Occidental Dresden Newa, the hotel will later transition to the Barceló Hotels & Resort brand, capitalizing on the group’s established reputation in the hospitality industry.

Peter Lenhardt, Head of IREMIS’s Hotel and Leisure division, emphasized the significance of this acquisition, highlighting the Pullman Newa Hotel’s iconic status in Dresden and its alignment with IREMIS’s investment goals. “The combination of the hotel’s location, asset quality, and renovation potential is exactly the type of opportunity our fund targets,” Lenhardt stated. He also confirmed IREMIS’s intention to continue seeking similar hotel investments for its growing portfolio.

The IREMIS Hotel Real Estate Fund I operates as a Luxembourg Reserved Alternative Investment Fund (RAIF) under the administration of INTREAL as its alternative investment fund manager (AIFM), positioning IREMIS for further strategic expansions within the European hotel real estate sector.