Kempinski Hotels, 12.18 Group Launch Luxury Brand
- Oct 10, 2019
Düsseldorf, Germany-based 12.18. Group and Kempinski Hotels, of Munich, Germany, have launched a new luxury lifestyle concept dubbed 7Pines Kempinski. The strategic partnership brings together two heavy hitters.
Founded in 1897, Kempinski Hotels is Europe’s oldest luxury hotel group and operates 78 five-star hotels and residences in 34 countries. Partner 12.18. Group is an active investor and developer, one of whose specialties is the hospitality industry—12.18. Investment Management GmbH manages properties with a total value of about $441.3 million (€400 million).
The first and so far only 7Pines Kempinski property is 12.18.’s flagship 7Pines Resort on the west coast of Ibiza, which opened last year. The second 7Pines Kempinski property will be what has been New York’s San Carlos Hotel, at 150 E. 50th St. The acquisition marked 12.18.’s first purchase outside Europe—the hotel will reopen as the 7Pines Kempinski Manhattan after comprehensive renovations.
Aggressive growth plans
In addition, a 12.18. spokesperson told Commercial Property Executive that the company is developing a 7Pines Kempinski Resort in Sardinia, Italy, which is tentatively scheduled to open in 2021. 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 $551.6 million (€500 million) in investment capital.
In connection with all that, 12.18. Group last month established 7Pines Hotel Management GmbH, which is based in Düsseldorf. Interestingly, one of 12.18. Group’s shareholders and strategic partners is the VZB, the pension fund of the Berlin Dentists’ Association (Versorgungswerk der Zahnärztekammer Berlin).