Maritim Hotels signs 50-year lease for new flagship

German Maritim Hotels group has signed a new 50-year lease with Union Investment for the biggest integrated congress hotel in Europe, being developed in Amsterdam North, close to the River IJ and opposite the city’s central railway station across the waterway.

The hotel, together with the Yvie residential tower being constructed alongside, represent a total investment commitment to the area development project of around €500 million by Union Investment. The agreement was announced at a ‘topping out’ ceremony in the Maritim Hotel tower on 15th of june by the well-known German family-owned hospitality group and Union Investment, one of Europe’s leading real estate investment managers.

Dr Monika Gommolla, Chairman of the Supervisory Board and owner of the Maritim Hotels Group, said: “The Maritim Hotels Group is eagerly awaiting the opening in 2023 of our flagship property being developed by Union Investment in Amsterdam North. The European business convention market is gradually reviving after Covid and we fully expect it to recover to pre-pandemic levels in the near future, despite the darkening economic and geopolitical outlook, because people want to meet each other face-to-face again. The Maritim Congress Hotel will attract these visitors due to its state-of-the-art conference facilities and accommodation and easy accessibility.”

The four-star-hotel will offer 579 rooms in a 110-metre tower, the third highest in Amsterdam, and is combined with a conference and congress centre with the capacity to host over 4,400 people in 18 conference rooms, Haal 1 for up to 2,200 people, making it the second largest such venue in the city after the RAI exhibition and convention centre on the Dutch capital’s southern fringe. The 50-year long lease is an exception from the European industry average of 20-25 years for similar investment assets, and signals according to Maritim Hotels both parties’ conficence in the revival of the large conference format after the Covid pandemic and also Amsterdam’s high ranking as a location on the European business convention map. The Maritim Hotel is due to open its doors in 2023.