Berlin: Aroundtown grabs Hotel Bristol on Kurfürstendamm
Aroundtown has snagged the long-established Hotel Bristol on Berlin’s Kurfürstendamm. Wiesbaden district court approved the submitted insolvency plan for ownership of the former Kempinski house yesterday. The simultaneous bidding process for the time-honored hotel is thus called off. The price Aroundtown is paying for the hotel is not public knowledge. Purchase prices between €120mn and €150mn have been mentioned. The hotel with more than 300 rooms was opened in 1952 and was both the first hotel of the Kempinski Group and the first five-star hotel in Berlin. Aroundtown intends to continue operating it as a hotel. The insolvency plan had been submitted by the law firm BBL Bernsau Brockdorff. Aroundtown was represented by the real estate law firm Jung & Schleicher.
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