Industry Update
Press Release 8 October 2019

7Pines Kempinski: 12.18. Group and Kempinski Hotels AG Jointly Develop Luxury Lifestyle Concept as Part of Strategic Partnership

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7Pines Kempinski
  • Duesseldorf-based 12.18. Group and Kempinski Hotels launch lifestyle product "7Pines Kempinski"
  • 12.18. invests 500 million Euros to realize growth on 20 new 7Pines Kempinski Hotels & Resorts
  • 12.18. acquires San Carlos Hotel in New York City, which after renovation will also be operating under the 7Pines Kempinski Hotel name

Duesseldorf-based 12.18. Group and Kempinski Hotels AG today announced the launch of their luxury lifestyle concept 7Pines Kempinski. The two partners have joined forces to create one of the leading lifestyle hotel products in the luxury segment.

Jörg Lindner and Kai Richter, Managing Partners of 12.18. Investment Management, together with Martin R. Smura, Chief Executive Officer and Chairman of the Board of Kempinski Hotels, announced the strategic alliance at the Expo Real real-estate trade fair in Munich in front of approximately 150 guests.

"The Kempinski brand has stood for tradition and excellent hospitality for more than 120 years. This represents an important step in our growth strategy," said Smura. "Thanks to the cooperation with 12.18., we will be able to offer our guests a lifestyle concept of the highest standard in the future."

As Europe's oldest luxury hotel group, Kempinski Hotels has 78 hotels in 34 countries and stands for the highest standards of quality and service throughout the world. The 12.18. Group has made a name for itself in recent years as an investor, project developer and in the modernization of hotels and restaurants. As an expert for high-class investments in the hotel and holiday real estate sector, the 12.18. Group offers investment, development, and hotel management from a single source. The company's flagship is the 7Pines Resort on the west coast of Ibiza, which was opened last year.

In addition to its know-how in managing first-class luxury hotels, 7Pines also benefits from access to the international network and the extensive distribution channels of Kempinski Hotels. To promote the expansion, 7Pines Hotel Management Gmbh has been founded and is based in Duesseldorf. In addition to Kai Richter, Markus Lück, General Manager of the 7Pines Resort Ibiza for many years, will act as Managing Director.

With the development of 7Pines Kempinski, 12.18. wants to grow by 20 new hotels and resorts by 2022 and, in cooperation with institutional investors, place 500 million euros in investment capital. As part of the expansion course, 12.18. is also expanding its portfolio outside Europe for the first time with the acquisition of the San Carlos Hotel in New York City. After thorough renovations, the San Carlos Hotel will operate as the 7Pines Kempinski Manhattan.

"The acquisition of the first property in the US represents a milestone in our company's history," commented Lindner. "New York has always been a dream destination for Kempinski Hotels and this important partnership makes it a reality," Smura continued. "Kempinski is now represented in New York and at the heart of Manhattan and we look forward to welcoming the first guests to this vibrant metropolis."

As a shareholder and strategic partner of 12.18., the pension fund of the Berlin Dentists' Association (Versorgungswerk der Zahnärztekammer Berlin - VZB) also welcomes the takeover of the first property in the United States. Dr. Ingo Rellermeier, Chairman of the VZB Administrative Committee and member of 12.18.'s Advisory Board, sees the acquisition as a symbol of the successful cooperation between 12.18. and the VZB and as a representation of a cornerstone for the expansion into further high-class tourism destinations.

ABOUT 12.18.

As experts for high-class tourism investments, 12.18. Investment Management GmbH currently manages properties with an investment volume of around 400 million Euros. As such, 12.18. covers the entire value chain: The company offers all services from a single source, from the first site inspection and profitability calculation to the further planning, conception, financing and realization of a project right through to operation and sales. The headquarters of 12.18. Investment Management GmbH are in Duesseldorf. The company name is composed of the position of the initial letter of the surnames of the two managing partners Kai Richter and Jörg Lindner in the alphabet. The 12.18. Hotel Management GmbH was founded in August 2016 and the 7Pines Hotel Management GmbH in September 2019. Based in Berlin and Duesseldorf, both companies have since been responsible for the strategic and operative management of the company's proprietary hotel facilities.

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7Pines Kempinski

With the development of 7Pines Kempinski, 12.18. wants to grow by 20 new hotels and resorts by 2022 and, in cooperation with institutional investors, place 500 million euros in investment capital. As part of the expansion course, 12.
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About Kempinski

Created in 1897, Kempinski Resorts is Europe"s oldest luxury resort group. Kempinski"s rich heritage of impeccable personal service and superb hospitality is complemented by the exclusivity and individuality of its properties. Kempinski now comprises a portfolio of 78 five-star resorts and residences in 34 countries and continues to add new properties in Europe, the Middle East, Africa, Asia and the Americas. Each one reflects the strength and success of the Kempinski brand without losing sight of its heritage. The portfolio comprises historic landmark properties, award-winning urban lifestyle resorts, outstanding resorts and prestigious residences. Each one imbues the quality guests have come to expect from Kempinski while embracing the cultural traditions of its location. Kempinski is a founding member of the Global Hotel Alliance (GHA), the world"s largest alliance of independent resort brands.

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