Mainz, here we come!
Lease agreement signed.
On November 15, 2016, we acquired a 3,800 sqm hotel site in an excellent location near the main train station in Mainz, and as early as mid-January 2017, we were able to sign a lease agreement for a 274-room hotel with our partner NOVUM from Hamburg. The joy is great and will increase when we soon receive the building rights based on a legally valid development plan. For the construction period, which we will report on, we estimate 18 months.