Basel: New owner for the Swissôtel
The hotel operator Munich Hotel Partners, together with the private equity investor H.I.G. Capital, has bought the Swissôtel Basel at Messeplatz. The hotel is to reopen as a Marriott Hotel.
The Swissôtel at Messeplatz 25 in Basel has been closed since November 2020 after the tenants had to file for insolvency. Now, the German hotel group Munich Hotel Partners (MHP) announced that it has acquired the hotel property together with the US private equity firm H.I.G. Capital. In the process, MHP has acquired a minority stake in the property. In addition, the company concluded a long-term management contract for the hotel operation as part of the joint venture.
The hotel in a very good location, directly at the exhibition grounds between the Badischer Bahnhof and Basel's old town, was opened in 1984 and has 238 rooms. According to MHP and H.I.G. Capital, they intend to jointly invest CHF 6 million in the modernisation in order to reposition the hotel on the market under a franchise agreement with Marriott International.
According to MHP, this is the first co-investment in the hotel real estate market. Until now, the company has focused on the management of hotels owned by institutional investors and was known as a franchise partner of Marriott International. (ah)
