Scandic Hotels, the largest hotel company in the Nordic countries, has signed a long-term lease agreement with developer B&L Group regarding the operation of a new hotel in Frankfurt.

The conference and event hotel will be part of the new "Hafenpark Quarter", a mixed-use development on the banks of the Main river, close to the city center and next to the new headquarters of the European Central Bank (ECB). It is expected to open in 2021.

The new hotel will encompass 22,000-sq-m and have 506 rooms and 2,000-sq-m of state of the art conference and event space. It will also offer an attractive restaurant and bar, excellent modern fitness facilities as well as one of the largest ballrooms in Frankfurt at 600-sq-m.

"This is an amazing opportunity for Scandic Hotels. Frankfurt is a major financial center and global commercial hub. We expect the new hotel to perform well on the market due to its many revenue streams and great location next to the ECB," said Michel Schutzbach, country manager Germany at Scandic Hotels Europe.

The hotel in Hafenpark is in line with Scandic’s strategy to expand in the largest cities in Germany. The addition of this second hotel in Frankfurt will not only raise awareness of Scandic, but also consolidate our presence in the German market, creating synergies with the Scandic Frankfurt Museumsufer that will open in February. The two hotels complement each other well and they will also boost our operating performance and market share, said Even Frydenberg, president and CEO, Scandic Hotels Group.

"We believe that we in Scandic have found a perfect partner for this project. Scandic has a successful track record of operating large conference hotels and we’re very happy to have entered this agreement and looking forward to future projects together," said Thorsten Testorp, managing partner at B&L Group. - TradeArabia News Service