IREMIS acquires Novotel Freiburg for €28m

IREMIS has acquired the Novotel Freiburg am Konzerthaus from Deka Immobilien for around €28 million on behalf of its IREMIS Hotel Real Estate Fund I, marking the Fund’s second investment following the repositioning of the Barceló Dresden Newa. 

Novotel Freiberg am Konzerthaus. Source: IREMIS

The 219‑room hotel will undergo a substantial refurbishment in 2027 before reopening under the Scandic brand on a new long‑term lease.

The property occupies a prime location at the entrance to Freiburg’s pedestrian zone and historic old town, adjacent to the city’s concert hall. It features a restaurant and bar, conference facilities and a wellness area, offering a strong foundation for repositioning.

The refurbishment planned for 2027 will modernise and reposition the hotel ahead of its relaunch as a Scandic property. Scandic operates around 320 hotels across Europe, including 12 in Germany, and continues to expand its footprint in key German markets.

Peter Lenhardt, Head of Hotel & Leisure at IREMIS, said Freiburg’s diversified year‑round demand profile makes it an excellent fit for the Fund’s strategy. He highlighted the partnership with Scandic and the opportunity to unlock the full potential of the asset through active asset management and targeted investment.

Jens Mathiesen, President & CEO of Scandic Hotels Group, said the acquisition represents an important step in Scandic’s German growth journey. He noted Freiburg’s resilience and attractiveness as a market, and the hotel’s prime location as a strong platform for establishing the brand in a new destination for both business and leisure guests.