Benson Elliot Capital Management, a private equity real estate firm, has completed a EUR6m office-to-hotel conversion programme at the Deutsch-Japanisches Center in Düsseldorf.
The project transformed 5,000 square metres of office space into 85 executive hotel rooms and 650 square metres of convention space that can accommodate up to 1,000 delegates at the city’s 5-star Nikko Hotel.
With a total of 386 rooms the Nikko Hotel is now the largest downtown hotel in Düsseldorf.
Benson Elliot acquired a controlling interest in the Deutsch-Japanisches Center, which houses the Nikko Hotel, on behalf of Benson Elliot Real Estate Partners II in January 2007. The mixed-use complex is located in Düsseldorf’s city centre, close to the banking district and the renowned shopping boulevard, the Königsallee.
Following the refurbishment programme the property now comprises the Nikko Hotel, the Nikko Convention Center, 7,500 sqm of office and retail space and a 560 bay underground car park.
Trish Barrigan, senior partner at Benson Elliot, says: “Our conversion of the former offices into hotel rooms and convention space highlights our belief in the potential of the Nikko Hotel and the Deutsche-Japanisches Center as a leading convention destination. Early on, we recognised the opportunity to create a superior hotel offering, catering for individual business, convention and leisure travellers.”
Bertold Reul, general manager of the Nikko Hotel, adds: “We are delighted to unveil the fully completed Nikko Hotel to guests and convention delegates. So far we have had a fantastic response to the enlarged and greatly improved facilities.”
Benson Elliot acquired the Deutsch-Japanisches Center in partnership with an affiliate of Event Holding, a hotel owner/operator based in Cologne, Germany.
