Aparthotel operator Staycity Group is set to expand in the DACH region, with plans to operate hotels in Germany and Austria after acquiring a majority stake in the hospitality arm of Munich-based real estate developer Denkmalneu Group.
The rapidly growing company has acquired a 74.9 per cent stake in the Felix Group, which operates event venues and aparthotels in Leipzig, Dresden and Vienna.
The deal, the sum of which was not disclosed, will see existing properties in Leipzig and Dresden rebranded as Staycity Aparthotels, while the 130-room property in Vienna, currently under construction, will open under the group’s Wilde brand in the second quarter of 2025.
Staycity CEO Tom Walsh, said: “We are thrilled at the prospect of operating aparthotels in the heart of these three beautiful European cities and very much look forward to working with the team at Denkmalneu as well as welcoming new colleagues from the Felix Group."
The Dublin-based company currently operates 35 aparthotels across France, Germany, Ireland, Italy and the UK, with plans to open additional properties in London, Amsterdam, Cambridge, Lisbon and Porto in 2025.
Walsh added: “As we near the end of 2024 I’m delighted that Staycity remains in a strong financial position, with high levels of liquidity and no net leverage. This enables us to continue seeking well-located aparthotel opportunities across Europe, with the DACH region of Germany, Austria and Switzerland being very much part of our strategic growth.”