Hines, 25hours to Develop Copenhagen Hotel
- Feb 20, 2019
Hines and European hotel operator 25hours Hotels have teamed up to develop a 243-key boutique hotel in Copenhagen, Denmark. The hotel will mark 25hours’ first project in Denmark and will anchor a mixed-use development on the city’s main shopping street, the Købmagergade.
Hines acquired Købmagergade 44, 46 and 50 in May 2018 on behalf of the Hines European Value Fund. The partnership will redevelop the historic buildings dating back to the 18th and 19th centuries into a flagship hotel, 32,291-square-feet of prime retail space and six residential apartments.
Located close to the Rundetaarn, one of Copenhagen’s most popular landmarks, the area attracts a high amount of foot traffic and already features high-fashion brands like Jimmy Choo, Valentino and Louis Vuitton, as well as beauty brands Sephora, Rituals and a variety of Danish brands.
PAST AND PRESENT
The new hotel will feature high-end dining options and café concepts, in addition to wellness and contemporary meeting facilities. Danish architects BBP will lead the project, with interiors to be designed by Martin Brudnizki. The hotel is slated to open in 2021. The new retail spaces will target a mix of international and Danish users and will be available starting late 2020.
“We have assembled an impressive team of Danish and international experts to transform the buildings, who will be focused on restoring their original features, many of which have been hidden or damaged by 20th century additions,” said Karen Nielsen, development director at Hines in Copenhagen. “We want to revive the buildings’ heritage while also creating something new and unique for Copenhagen.”
In 2017, Skanska invested $90 million into a 357-key hotel project in Copenhagen, with an expected 2020 completion date.
Image courtesy of Hines