Wednesday, October 2, 2024 Scandic Hotels signs a long-term lease with AXA for a 174-room hotel in Stuttgart, set to open in late 2025 after renovations to meet brand and eco-friendly standards. Scandic Hotels Group has signed a long-term, revenue-based lease agreement with AXA Investment Managers to take over a prime 174-room hotel in the heart of Stuttgart. Set to open in the fourth quarter of 2025, this strategic move will see the hotel undergo extensive renovations to meet Scandic’s operational standards and align with their brand identity.
With a commitment to delivering sustainable and high-quality hospitality, Scandic is ready to establish itself as a key player in Stuttgart’s burgeoning hotel market. Stuttgart, one of Germany’s largest cities and a critical financial hub in Europe, offers a unique blend of traditional and modern industries. It is renowned for its strong automotive and technology sectors, boasting major companies like Mercedes-Benz and Porsche, while simultaneously nurturing a growing startup scene.
As a result, Stuttgart has become a magnet for both leisure tourists and business travelers. With its strategic position as a top business destination, Scandic’s new hotel aims to cater to this dual market by offering a premium blend of comfort, amenities, and eco-friendly operations. This new property marks Scandic’s eighth hotel in Germany, reflecting the brand’s continued focus on expanding within key European markets.
The lease agreement wit.