U.S. luxury hotel brand Rosewood is coming to Germany. In Munich, Rosewood and Bayerische Hausbau GmbH & Co. KG signed a management contract for a 5 star plus hotel at Kardinal-Faulhaber-Straße 1. A team of SKW Schwarz Rechtsanwälte advised property owner Bayerische Hausbau on the hotel contracts, including the preceding parallel contract negotiations with several interested parties, and on contract documentation.
The management contract provides for a term of 20 years. The hotel is expected to open in 2023 at the site of the former HypoVereinsbank headquarters and the adjacent Palais Neuhaus-Preysing. The hotel will comprise 86 rooms, 46 suites, conference rooms, a spa, a restaurant, and a bar on an area of some 20,000 square meters. The reconstruction, scheduled to begin in 2019, calls for an investment of about EUR 100 million by Bayerische Hausbau.
Established in Texas about 40 years ago, Rosewood Group operates 21 ultra-luxury hotels worldwide in the U.S., in London, Paris, and Tuscany. Additional hotel openings in Europe are scheduled for Amsterdam, Edinburgh, London, and Vienna.
Bayerische Hausbau is a subsidiary of Schörghuber group, which bundles the group’s construction and real estate activities. It focuses on large-scale commercial and residential projects in core inner-city sites in Germany. Bayerische Hausbau currently manages a real estate portfolio of about EUR 2.5 billion.
SKW Schwarz regularly advises Schörghuber group on transactions, most recently on the sale of the “Elephant” hotel and the inn “Zum Weißen Schwan” in Weimar.
Counsel to Bayerische Hausbau:
SKW Schwarz Rechtsanwälte, Munich: Dr. Sebastian Graf von Wallwitz, LL.M. (Lead, Corporate, Hotel Contracts), Margret Knitter (IP); Associates: Dr. Daniel Meßmer and Elisabeth Noltenius (IT, Data Protection), Dr. Zahra Rahvar (IP)