Invesco Real Estate has acquired the Cloud One hotel in Gdansk, Poland, with the sale agreed shortly after the hotel opened for business.
The asset will be held by the manager on behalf of a German investor, and is the first hotel property to be held by the client as they diversify away from other asset classes. It comes with the benefit of a 25 year lease signed by Motel One, parent group of the Cloud One brand.
An urban renewal project
The seven storey hotel was built by developer Immobel, in partnership with Multibud, as part of a larger real estate project on the city’s Granary Island. In addition to the hotel, the scheme included residential apartments, an underground car park, and commercial elements. The design was awarded Best Urban Project 2020 in the MIPIM Awards, noting its modern design with sustainability at its core.
“The Cloud One Gdansk asset has a long lease with a highly attractive yield profile,” said Tomas Picha of at Invesco Real Estate. “It represents a compelling investment for our German client while also building further on Invesco Real Estate’s specialist, long-term success in the European hotels sector. Gdansk has continued to benefit from increased tourism and business traffic, supporting the strong investment case for this acquisition.’
The Cloud One hotel in Gdansk is the sixth to open under the brand, joining properties already trading in Dusseldorf, Hamburg, New York, Nuremberg and Prague. The lifestyle brand launched with a hotel opening in New York in 2022. At the time, CEO Stefan Lenze commented: “Launching The Cloud One Hotels in New York is a logical step and a fantastic addition to the existing Motel One concept. In New York, we have designed a product and a brand that we are proud of. The first-class design, the unique breakfast, the music and the bar concept all reflect the Cloud One Hotels’ vision.”
Now, with half a dozen hotels trading, the brand is building momentum. Further Cloud One hotels are in development in Chicago and Miami in the USA. In Europe, the brand is building its presence in key destination cities across the continent, with developments under way in Berlin, Brussels, Lisbon, Nice and Vienna.
The Motel One group currently has 96 hotels with more than 27,000 rooms across Europe, across the Motel One and Cloud One brands. Originating from Germany, the group has a major presence there and has now expanded its portfolio to 13 countries.
Continuing to build the original Motel One
Motel One continues to grow its eponymous brand, with a strong pipeline of openings. In early 2025, those openings include the launch of a third Motel One hotel in London; the group is already working on a fourth hotel in the UK capital, with the 222 room Motel One Southwark under construction.
In its home country, expansion continues with sites in Koblenz, Braunschweig, Munich Garching and Dusseldorf in development. In Austria, there are plans for two Motel One hotels in Vienna, the first of which is expected to open during 2025.
