The investment and asset manager entered the Scandinavian hotel market with the purchase of the planned hotel in 2022. It is part of the portfolio of the institutional open-ended mutual real estate fund UniInstitutional European Real Estate.
The 25hours Hotel celebrated its opening on July 27. It has been leased to KNSA Hospitality Kopenhagen ApS for 25 years and is operated under the 25hours lifestyle brand. The 25hours hotels are part of Ennismore, a hospitality company rooted in culture and creative networking. Ennismore is a joint venture with Accor that was formed in 2021. The 25hours Hotel has 128 rooms and includes an Asian restaurant, a café and a sky bar on the top floor. There are also three function rooms.
“With the completion of the 25hours Hotel Paper Island, an attractive new building has been added to our portfolio, which will provide us with solid returns in the long term. Copenhagen is one of Europe’s top hotel markets, stable, with high occupancy and attractive rates. Up to 1.9 million visitors per year are expected on Paper Island alone in the future”, says Andreas Löcher, Head of Investment Management Operational at Union Investment.
The 25hours Hotel Paper Island is located directly on the waterfront in the center of Copenhagen on Christiansholm Island, also known as Paper Island. In the past, huge rolls of paper for the Danish daily newspapers were stored here. A mixed-use quarter is being created on Paper Island, which, in addition to the hotel, will also include around 250 apartments, high-quality retail, restaurants and event spaces as well as a bathhouse, the Water Culture House.
