Change of operator during ongoing operations strengthens the long-term positioning of the long-stay property
The global real estate service provider CBRE has successfully advised on the subsequent lease of the Aparthotel Adagio Access Stuttgart Airport Messe in Leinfelden-Echterdingen. The new tenant and operator is Vorreiter AG. The investment manager of the property is Hannover Leasing for a closed-end special AIF. CBRE was exclusively mandated to search for a new operator and to support the entire leasing process.
Opened in 2021, the aparthotel at Bertha-Benz-Platz 5 is part of the mixed-use Vision One complex and has 125 apartments with kitchenettes. Other amenities include a breakfast restaurant, a self-service laundromat, a mini-market and a coworking area. The hotel will continue to operate under the Adagio Access brand.
The change of operator took place during ongoing operations. CBRE accompanied the process holistically, from strategic consulting and operator approach to structuring and controlling the operator selection process to the conclusion of the contract negotiations. The aim was to attract a long-term suitable operator for the property with in-depth market knowledge, brand experience and operational expertise.
Vorreiter AG is already active in the Stuttgart hotel market and operates, among other things, the Hilton Garden Inn Stuttgart NeckarPark. With the Adagio Access Stuttgart Airport Messe aparthotel, Vorreiter AG is expanding its portfolio in the region with an established long-stay product. In addition, the company already operates an Adagio Access in Bremen.
"With the Adagio Access Stuttgart Airport Messe, we are taking over an established hotel in an attractive hotel location in the region. The combination of airport, trade fair and a strong corporate environment offers very good conditions for a long-stay concept. Through the operation of our Adagio Access in Bremen, we are already familiar with the brand and its requirements. We are looking forward to successfully developing the hotel in Stuttgart together with Hannover Leasing and our brand partners," says Alexander Aisenbrey, CEO of Vorreiter AG.
"With the successful re-lease, we are securing the hotel's long-term positioning at an established location with attractive demand generators. Vorreiter AG combines operational expertise with regional market knowledge and experience with the Adagio Access brand. In this way, we are creating a good basis for continuing the positive development of the property in the long term and strengthening its long-term value," says Maximilian Pechmann, Head of Asset Management at Hannover Leasing.
Hannover Leasing was legally advised by the law firm Arnecke Sibeth Dabelstein.
