Steigenberger Hotels AG Extends Lease With Union Investment for Germany’s Steigenberger Hotel Hamburg

Steigenberger Hotels and Resorts | February 28, 2019

Frankfurt, 28 February 2019 Never change a winning team: Union Investment, the owner of the property, and Steigenberger Hotels AG have extended the lease for the hotel on Hamburg's Fleetinsel for another 25 years. The two parties have also agreed to carry out a comprehensive refurbishment of the hotel, which was built in 1992. Beginning with the underground garage and followed by the 8th floor, the hotel will be gradually updated, remaining open during refurbishment. The works are scheduled to start in spring 2019. Union Investment is investing around EUR 50 million in the upgrading programme. "Our guests are accustomed to first-class s...