Austrian investor group buys Rotterdam hotel

JPI Hospitality Investors Club has bought the Hotel Rotterdam City for an undisclosed amount from a family owner.

The property is located in the Oude Noorden district, close to Rotterdam Centraal station and 500 meters from the city center. The hotel has 115 rooms and is spread over two connected buildings. A brasserie is available for hotel guests and residents of the surrounding area.

The JPI Hospitality Investor’s Club is an owner-managed investor’s group based in Vienna around the two founders and managing partners of JP Immobilien, Daniel Jelitzka and Reza Akhavan. Lukas Euler-Rolle, CEO and managing partner, is responsible for JPI Hospitality together with hotel expert and asset manager Gebhard Schachermayer.

The club was founded in the summer of 2021, and intends to invest around €300 million in the purchase and renovation of leisure and city hotels in major European cities and premium leisure regions over a period of 24 months. The Hotel Rotterdam is already the third acquisition after the recent purchase of the Hotel Klausner in Kitzbühel, Austria, in December 2021 and that of the Hotel Tres Playas in Mallorca a few weeks ago.

Currently, JP Immobilien owns 14 hotels, six of which are in the development phase and eight already in operation, with around 2,200 rooms in European cities and leisure destinations.

JPI Hospitality Investor’s Club was advised by PKF hospitality group and Vandoorne.

What They Said

Daniel Jelitzka, founder of JP Immobilien Group and chairman of the advisory board of JPI Hospitality, said: "We are committed to investing in high-quality, functional hotels with development potential in attractive locations, which we are transforming into top destinations with a clear idea and contemporary branding. Rotterdam offers the best opportunities here. The city is regarded as an up-and-coming market and is already seen as the 'coming Amsterdam'. However, there is still a need to catch up in the hospitality sector. With our hip hotel, we will be able to fill precisely this gap."