limehome expands through hotel takeovers and conversions
limehome strengthens its market presence by adding several hotel assets across Europe. Multiple hotel properties in A-cities, including Berlin, Barcelona, Madrid and Valencia, completed or nearly completed.
MUNICH – limehome, Europe's leading operator of design accommodations, is stepping up its focus on conversions of vacant and struggling hotels. The company has signed four additional projects in Italy, Spain and Germany, which will bring around 200 new units to market over the next year. These will be added to the expanding portfolio of completed or nearly completed hotel properties in A-tier cities. The next limehome opening of a former hotel is scheduled for fall 2025, with the launch of a newly converted property in Berlin.
Increasing portfolio share of hotel projects
In 2024, limehome took over the former Gold Hotel in Berlin-Friedrichshain as the sole tenant. A total of 42 new units will be available from the fall. This is already the second hotel conversion in the capital, following the property on Stresemannstraße that opened its doors in 2023. The above-average occupancy rate of 93 percent proves the success of the Berlin limehome property.
Following this showcase, limehome will revitalize two adjacent three-star hotels in the southern Italian port city of Bari at Via Piccinni and Via Roberto da Bari with its partners. Just 400 metres apart and steps from the historic centre, both properties will reopen by mid-2026.
On Spain's Costa Blanca, limehome will relaunch the former beachside Hotel Centro Mar on Benidorm's Calle Major by October 2025. Back in Germany, the company is converting a former Ibis hotel in central Jena, Thuringia, into functional design accommodations that will welcome guests in summer 2025. These projects are the latest additions to limehome's growing list of hotel conversions across major European cities, including Barcelona, Basel, Berlin and Prague.
Lease renewals and rising costs prompt landlords to seek alternatives
limehome's increasing focus on hotel takeovers addresses the growing cost facing hospitality operators face due to rising rents and labour costs. limehome's co-founder and co-CEO, Dr. Josef Vollmayr, offers the following insights: 'A significant portion of the estimated seven to eight million hotel rooms in Europe is outdated. At the same time, operating costs have increased by approximately 40 percent. As rental agreements expire – which will be the case for many properties in the coming years – the pressure on tenants is enormous. In this scenario, improving efficiency and modernizing existing properties is crucial to ensure the economic viability of these assets.'
Converting existing buildings rather than building new properties offers a faster, more resource-efficient solution if the future tenant can maximise space and lower operational outlay. limehome's tech driven operating model allows for flexible floor plans and high space efficiency. The company's in-house team of architects, engineers and data scientists increase the net lettable area to around 70 percent, compared to around 50 percent in conventional hotel concepts.
'Our tech-enabled concept combined with deep conversion expertise provides a needed solution for underperforming hotel assets,' says Vollmayr. 'Hotel conversions already represent up to 15 percent of our portfolio and the trend is rising. Due to the increasing cost pressure faced by operators from the mid- to upscale segment, we expect a significant rise in conversion projects within our portfolio over the next few years. The same applies for hotel takeovers.'
Diversified hotel projects for maximum coverage
In addition to new hotel conversions, with which limehome takes over struggling hotel operators and thus enriches the accommodation market, the Munich-based company is also working on new hotel construction projects.
Almost 400 new units are being built in the Spanish tourist centers of Madrid and Barcelona, as well as in Burgos, which is a popular stop on the Way of St. James and is equally interesting for short breaks. Since 2022, limehome has already been successfully managing a hotel accommodation with over 30 units in the Spanish metropolis of Barcelona. Through the mix of conversions and new construction projects, limehome is expanding its own portfolio across the board and demonstrating once again that the hospitality provider's digital concept can be used flexibly and successfully as a solution for the hotel market of tomorrow.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Travel Daily News
3 days ago
- Travel Daily News
limehome expands through hotel takeovers and conversions
limehome strengthens its market presence by adding several hotel assets across Europe. Multiple hotel properties in A-cities, including Berlin, Barcelona, Madrid and Valencia, completed or nearly completed. MUNICH – limehome, Europe's leading operator of design accommodations, is stepping up its focus on conversions of vacant and struggling hotels. The company has signed four additional projects in Italy, Spain and Germany, which will bring around 200 new units to market over the next year. These will be added to the expanding portfolio of completed or nearly completed hotel properties in A-tier cities. The next limehome opening of a former hotel is scheduled for fall 2025, with the launch of a newly converted property in Berlin. Increasing portfolio share of hotel projects In 2024, limehome took over the former Gold Hotel in Berlin-Friedrichshain as the sole tenant. A total of 42 new units will be available from the fall. This is already the second hotel conversion in the capital, following the property on Stresemannstraße that opened its doors in 2023. The above-average occupancy rate of 93 percent proves the success of the Berlin limehome property. Following this showcase, limehome will revitalize two adjacent three-star hotels in the southern Italian port city of Bari at Via Piccinni and Via Roberto da Bari with its partners. Just 400 metres apart and steps from the historic centre, both properties will reopen by mid-2026. On Spain's Costa Blanca, limehome will relaunch the former beachside Hotel Centro Mar on Benidorm's Calle Major by October 2025. Back in Germany, the company is converting a former Ibis hotel in central Jena, Thuringia, into functional design accommodations that will welcome guests in summer 2025. These projects are the latest additions to limehome's growing list of hotel conversions across major European cities, including Barcelona, Basel, Berlin and Prague. Lease renewals and rising costs prompt landlords to seek alternatives limehome's increasing focus on hotel takeovers addresses the growing cost facing hospitality operators face due to rising rents and labour costs. limehome's co-founder and co-CEO, Dr. Josef Vollmayr, offers the following insights: 'A significant portion of the estimated seven to eight million hotel rooms in Europe is outdated. At the same time, operating costs have increased by approximately 40 percent. As rental agreements expire – which will be the case for many properties in the coming years – the pressure on tenants is enormous. In this scenario, improving efficiency and modernizing existing properties is crucial to ensure the economic viability of these assets.' Converting existing buildings rather than building new properties offers a faster, more resource-efficient solution if the future tenant can maximise space and lower operational outlay. limehome's tech driven operating model allows for flexible floor plans and high space efficiency. The company's in-house team of architects, engineers and data scientists increase the net lettable area to around 70 percent, compared to around 50 percent in conventional hotel concepts. 'Our tech-enabled concept combined with deep conversion expertise provides a needed solution for underperforming hotel assets,' says Vollmayr. 'Hotel conversions already represent up to 15 percent of our portfolio and the trend is rising. Due to the increasing cost pressure faced by operators from the mid- to upscale segment, we expect a significant rise in conversion projects within our portfolio over the next few years. The same applies for hotel takeovers.' Diversified hotel projects for maximum coverage In addition to new hotel conversions, with which limehome takes over struggling hotel operators and thus enriches the accommodation market, the Munich-based company is also working on new hotel construction projects. Almost 400 new units are being built in the Spanish tourist centers of Madrid and Barcelona, as well as in Burgos, which is a popular stop on the Way of St. James and is equally interesting for short breaks. Since 2022, limehome has already been successfully managing a hotel accommodation with over 30 units in the Spanish metropolis of Barcelona. Through the mix of conversions and new construction projects, limehome is expanding its own portfolio across the board and demonstrating once again that the hospitality provider's digital concept can be used flexibly and successfully as a solution for the hotel market of tomorrow.
Travel Daily News
3 days ago
- Travel Daily News
Smartwings to increase number of flights to Malaga, Spain
Smartwings boosts Prague-Malaga flights to 12 weekly, enhancing flexibility and capacity on this popular Spain route with expanded morning service. PRAGUE – Smartwings airline will offer even more direct flights from Prague to Malaga, Spain, starting this autumn. Its regular service from Prague to Malaga will be available to passengers 12 times a week from October 23. This means an additional 5 weekly flights on this route. In addition to the daily afternoon Smartwings flight to Malaga departing from Prague at 17:20, there will also be a new option to travel to the south of Spain with a morning service. Departure from Prague is scheduled for 6:00 AM, with arrival in Malaga at 9:25 AM. The return flight from Malaga to Prague will depart at 10:10 local time and arrive at Václav Havel Airport Prague at 13:25. The route to Malaga will be served by a Boeing 737 aircraft with a capacity of 189 seats. 'This is definitely another piece of good news for our clients. They will be able to travel to this popular Spanish destination with Smartwings not only more often, but also to better plan short-term trips with maximum use of their time at the destination,' says Michal Váňa, Sales Director, Smartwings. Malaga is a very popular destination in the south of Spain and the second largest city in Andalusia. Last year, Smartwings flew over 118 thousand passengers from Prague to Malaga and back. The average occupancy rate was 84%. In addition to Malaga, the largest Czech airline also offers flights to other Spanish destinations including Valencia, Madrid, Almería, Mallorca, Menorca, and the Canary Islands. Under the 2025 summer flight schedule, the company will offer direct flights from six Czech airports to approximately 80 destinations. Compared to last year, there is an increase in the number of flights to selected destinations, such as Sardinia (Cagliari and Olbia), the Azores (Ponta Delgada), Madrid, Madeira (Funchal), the Canary Island of Lanzarote, Lamezia Terme, Thessaloniki, and Tirana. Clients have the option to travel in business class on scheduled flights to the Canary Islands of Tenerife and Gran Canaria. The Smartwings group will deploy a fleet of 58 aircraft in the 2025 summer season to be operated from the Czech Republic, Poland, Slovakia, and Hungary.
Travel Daily News
4 days ago
- Travel Daily News
Downtown San Diego's Tower 180 turns to dual-branded Hyat
J Street will transform San Diego's Tower 180 into a $250M, dual-branded Hyatt hotel, marking a major office-to-hospitality conversion. SAN DIEGO, CALIFORNIA – J Street, a leading San Diego-based real estate developer, announced ambitious plans to transform Tower 180, a 25-story office building in Downtown San Diego, into a 560-key dual-branded project with a Hyatt Place and Hyatt House hotel. The conversion project, in collaboration with Hyatt, represents one of the largest office-to-hospitality conversions in the history of Southern California and will cost approximately $250 million. Construction is slated to begin in early 2026 with completion expected in the first half of 2028. The transformation aims to not only revitalize an underutilized downtown property but also create a vibrant destination that serves both visitors and locals, further enhancing the city's downtown corridor. 'This type of conversion project requires curiosity, creativity, and confidence,' said Saj Hansji, Founder and CEO of J Street. 'As a small and nimble firm, we were able to recognize the exceptional potential of Tower 180 and structure an offer that outpaced more institutional competitors. Over the past two years, we've meticulously quantified and mitigated the risks, creating a friction-free path to deliver this transformative new hotel for Downtown San Diego.' J Street acquired Tower 180 in December 2023 and partnered with architecture firm Delawie and interior design firm MONOGRAM at BBGM to reimagine the space. The Tower 180 project is uniquely positioned for success due to several key advantages. Originally built as the United States National Bank Building, the building underwent extensive renovations to its facade, lobby, and mechanical systems in 2020, making it an ideal conversion with updated infrastructure already in place. The building is also fully vacant eliminating relocation challenges often associated with adaptive reuse projects and has undergone substantial interior demolition and abatement. The architectural configuration of the main tower and adjacent annex presents an efficient layout for guestroom design, maximizing the property's functionality for hospitality use. The development also features a standalone nine-story parking garage, ensuring convenient parking options for guests and the public. Located at 180 Broadway, the 385,000-square-foot tower will be converted into a Hyatt Place hotel (371 keys) and a Hyatt House hotel (189 keys), offering two distinct hospitality experiences under one roof. The Hyatt Place hotel will offer those traveling for business or those looking to unwind a spacious room with dedicated places to work, sleep and hang out, helping guests seamlessly transition from working hours to relaxation. The Hyatt House hotel will provide well-equipped living accommodations with everything guests need for short- or long-term stays. Both hotels' amenities will help guests maintain their routine and enjoy the comforts of home when they are away. The dual property will feature reception areas, a lobby lounge, and market on the ground floor, a breakfast bar with an additional overflow lounge on the second floor, and more than 12,000 square feet of meeting space across levels 9 and 10 to accommodate conferences and events. 'Hyatt's partnership with J Street to transform Tower 180 is a fantastic opportunity to bring Hyatt's Essentials Brands to the Downtown San Diego market,' said Nirav Shah, Regional Vice President Development, Hyatt. 'With J Street's creativity and experience, this project exemplifies the transformation of office space in primary urban markets in the post-pandemic world.' The crown jewel of the project will be Lurline Cocktail Club, an upscale rooftop bar and lounge on the 25th floor. With high ceilings and floor-to-ceiling glass walls showcasing panoramic, unobstructed 360-degree views of the San Diego skyline and the ocean beyond, Lurline will blend the sophistication of a private penthouse with the energy of a premier listening lounge and sky-high bar. Featuring a sleek, minimalist design with a thoughtful balance of rough and polished materials, Lurline will showcase a curated collection of modern art that celebrates the intersection of architecture and music. The venue will offer a separate entrance off the street, serving as a destination for visitors and locals alike. This project continues J Street's commitment to creating unique, singular developments that enhance urban environments while providing exceptional returns. The conversion of Tower 180 aligns with the growing national trend of repurposing underutilized office buildings for hospitality and residential uses, addressing changing market demands in the post-pandemic landscape.
