NOVUM secures future of Historic Hotel Arosa in Essen, Germany

After the present tenant of the object, the Libertas Essen GmbH, decided not to extend the lease after 30th June 2016 and ceased operations on 26th June 2016, the future of the traditional Hotel Arosa at Rüttenscheider Strasse 149-151 in Essen-Rüttenscheid remained unclear. The manager of the property's new owner, Gunnar Marx of MARX City Investor GmbH & Co. KG, explains:

Our know-how and expertise lie in unambiguously in retail and housing when it comes to the real estate economic area – in the past, we have utilized our acquired, mixed-use objects including hotel operations for other uses, after leases ran out. This is also true for the rooms of Hotel Arosa, where we intensely checked other, different utilisation possibilities, such as residences, offices and retail stores. The alternative planning is now complete."

The hotel Arosa in Essen-Rüttenscheid is known to every local citizen – in 1966, the hotel was founded where Franziskastrasse and Rüttenscheider Strasse meet. The brightly shining building is respresentative for the whole part of Essen-Rüttenscheid. Prominent guests like the Rolling Stones stayed in the hotel in the past.

"To us, having the best interest of our employees was a matter of heart", says Gunnar Marx, "which was also one of the reasons why we decided to continue operating the hotel at this point. "

The new tenant of the property is the NOVUM Hotel Group which will operate the hotel under the name "Novum Hotel Arosa" in the near future. "We love hotels steeped in tradition", explains David Etmenan, Chief Executive Officer and Owner the NOVUM Group, regarding the takeover. "In October 2016, we start with the Hotel Handelshof in Kettwiger Strasse – where the parents of Heinz Rühmann had already led this traditional house - and the Rolling-Stones have stayed at the Arosa. Tradition is very important to us!"

The whole hotel is going to be modernised. Among other changes, 64 old bathrooms are to be renovated, in order for the rooms to be up to date with today's standards. The reception will be moved to the first floor and the hotel will receive a new, modern entrance on the side of Franziskastrasse.

The NOVUM Hotel Group is already operating the Novum Hotel Ambassador, the Handelshof follows in October 2016 and next year, the new building of the Novum Style Hotel Essen within the Europacenter will complement the portfolio in Essen.

"With that, we are represented in Essen with four hotels and can generate appropriate synergetic effects ", explains David Etmenan further.

There is a seamless crossing: The NOVUM Hotel Group takes over the hotel Arosa on 1st July 2016.

"Despite already operating eighty hotels throughout Europe, we were never able to negotiate a lease so quickly before like the one for Hotel Arosa. This is because we are a family office and our lessor, the MARX City Investor GmbH & Co. KG as a tenant - also a Family office – has nearly identical structures to ours. If both partners know precisely what they want, then even nowadays, an agreement can be reached pretty fast", according to David Etmenan.

The building at Rüttenscheider Strasse 149-151 is thus completely rented: On the ground floor, the catering trade companies Baba Green and Vapiano will open individual branches and the travel agency First will remain as a tenant within the object. "We are now only waiting for the planning permission – then the rebuilding can begin on the ground floor and then we can start turning our ambitious plans into reality" explains Gunnar Marx, managing companion of MARX City Investor GmbH & Co. KG.

About the MARX City Investor GmbH & Co. KG
Headquartered in Castle Baldeney in Essen, the company specialises on real estate development throughout Germany. Regarding the company's projects, they prefer a more cautious approach. Their motto: "We would rather be in the land register than in the press."

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