Mandarin Oriental to expand facilities in Munich
Mandarin Oriental Hotel, Munich (owned and managed by Mandarin Oriental Hotel Group) has announced plans to construct new hotel rooms and facilities as part of the mixed use complex estimated to open in 2021. The Group’s total investment in the project, which will also include a refurbishment of the existing hotel’s 73 rooms, is estimated at €124 million (US$170 million).
The site will be developed into a mixed use complex of some 23,000 sq. m. comprising two buildings that will jointly house new hotel rooms and facilities, 19 luxury branded Residences at Mandarin Oriental, retail units, commercial offices and underground car parking. One of the new buildings, housing the hotel rooms and facilities as well as six of the 19 Residences at Mandarin Oriental and approximately 800 sq. m. of retail, will be connected to the existing hotel via an underground tunnel.
Mandarin Oriental will own 100% of the freehold interest in the land and buildings of the new hotel annex, comprising 51 additional guestrooms (increasing the total number of guestrooms of the expanded hotel to 124), a restaurant and bar, a spa, fitness centre and swimming pool, hotel back of house facilities and ten underground car parking spaces.
The site, which is currently a multi-storey car park, was acquired by W+B from the City of Munich in 2013. As a condition of the purchase of the car park, W+B are required to develop and construct a replacement car park at another location in the city prior to commencing redevelopment of the site. As a result, construction of the complex is estimated to begin in 2018, with completion expected for late 2020.