21 November 2023
Frankfurt, 15 September 2023 – An icon among Frankfurt’s luxury hotels is reopening: Following the acquisition by Peakside of the prestigious Grand Hotel Hessischer Hof from Hessische Hausstiftung, a foundation of the House of Hesse, in December 2022, the European investment manager has successfully negotiated with the renowned Indian hotel operator Indian Hotels Company Limited (IHCL), part of Tata Group, to enter into a 20-year lease agreement.
As part of extensive refurbishment works, the hotel will be given a new design featuring modern accents while at the same time preserving the architectural integrity of the landmark structure. The legendary Jimmy’s Bar will retain its historical character. Exchange-listed IHCL, which manages a portfolio of over 270 hotels spanning eleven countries on four continents, plans to reopen the five-star hotel under the Taj Hotel brand in 2025. The hotel will also include The Chambers, India’s first exclusive business club. This will mark IHCL’s first Taj Hotel in continental Europe.
The Grand Hotel, centrally located opposite the Frankfurt trade fair grounds and in the immediate vicinity of the banking district, offers gross floor space of approx. 13,000 sq.m. The hotel was built on a former city palace site by the House of Hessia and was owned and operated by the Prince of Hessia as a five-star hotel and a member of The Leading Hotels of the World. The property will have c. 134 guest rooms and suites, a 180 sq.m. presidential suite, several function rooms, a restaurant, a bar, multiple terraces, a winter garden, a spa and fitness area, and a large underground parking garage. The refurbishment concept includes the creation of some additional rooms within the current building structure.
Puneet Chhatwal, Managing Director and Chief Executive Officer, IHCL said: "This is a milestone in IHCL’s journey as we expand our footprint in key international gateway cities. Frankfurt, a vibrant metropolis is one of Europe’s most dynamic destinations. We are very proud to gain a foothold in such an iconic structure as Frankfurt’s Hessischer Hof and to be able to reopen it with new splendour.
“For over a century Taj, renowned for its world-class service of genuine warmth and sincere care will now bring the quintessential Taj hospitality to Frankfurt. We are delighted to partner with Peakside for this hotel,” he added.
“Frankfurt is a major international crossroads where we will set new standards for luxury hotels while also achieving a milestone by attracting the first Taj Hotel in Continental Europe,” says Boris Schran, Managing Partner at Peakside. “We are confident that our concept will offer exactly what German and international travellers are looking for as they come to Frankfurt.”
“Right from the start, the most renowned hotel operators showed strong interest in the Hessischer Hof,” adds Simon Lutz, Partner at Peakside. “A key reason for the choice of the internationally renowned hotel group IHCL was their many years of demonstrable experience as an excellent operator of luxury hotels. Through our joint plans, we will build upon this hotel’s rich legacy under the new brand.”
Peakside was advised by Hogan Lovells (legal), HauckSchuchardt (tax) and Treugast (hotel consultancy). IHCL was advised by KUCERA Rechtsanwälte (legal), WTS (tax), Feuring (hotel consultancy) and by JOI-Design (design concept).
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About Peakside
Peakside Capital Advisors AG is a European investment manager. The private-equity company manages assets worth over EUR 1.4 billion on behalf of institutional investors. Peakside implements differentiated investment strategies tailored to specific investor needs, ranging from core to value-add and opportunistic investments in commercial and residential assets and has in total acquired assets worth EUR 4.5 billion. Peakside’s investment spectrum includes single properties, developments as well as portfolios, distressed debt and real estate operating companies. The firm employs a team of more than 35 professionals in its offices in Frankfurt, Zug, Warsaw, Prague and Luxembourg.
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Media contact
Marie-Noëlle Sbresny
Feldhoff & Cie. GmbH
Tel: +49 69 26 48 677 – 236
Mobile: +49 159 01 22 03 98
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www.feldhoff-cie.de
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About The Indian Hotels Company Limited
The Indian Hotels Company Limited (IHCL) and its subsidiaries bring together a group of brands and businesses that offer a fusion of warm Indian hospitality and worldclass service. These include Taj – the iconic brand for the most discerning travellers and ranked as India’s Strongest Brand 2023 as per Brand Finance; SeleQtions, a named collection of hotels; Vivanta, sophisticated upscale hotels; and Ginger, which is revolutionising the lean luxe segment. Incorporated by the founder of the Tata Group, Jamsetji Tata, the Company opened its first hotel - The Taj Mahal Palace, in Bombay in 1903. IHCL has a portfolio of 271 hotels including 81 under development globally across 4 continents, 11 countries and in over 100 locations. The Indian Hotels Company Limited (IHCL) is India’s largest hospitality company by market capitalization. It is listed on the BSE and NSE.
Besuchen Sie uns unter:
www.ihcltata.com; www.tajhotels.com; www.seleqtionshotels.com; www.vivantahotels.com; www.gingerhotels.com
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