Investment club celebrates success

April 2024 saw a double celebration for Austria's JP Immobilien, as it celebrated the opening of development project Hoxton Vienna, and closed on its first investment club, which acquired six hotels for repositioning

JP Immobilien Group is celebrating the successful completion of its first JP Hospitality Investors Club, with investment deals all now in place. The success of the first investment club means that JP is now planning a second tranche of club deals.

Set up in 2021, the club has brought together smaller investors, sharing in the combined success of a grouped investment with a greater pool of capital to deploy. The club has acquired lifestyle hotels in Kitzbuhel, Mallorca, Madonna di Campiglio, Trieste and Rotterdam, all of which have been successfully refurbished and repositioned. A final, sixth property for the club has been identified in the Balearics, and acquisition negotiations are heading to completion.

Successful format

The exercise is now due to be repeated, with JP HIC II aiming to acquire eight to twelve hotels in top European lifestyle locations, again using the existing expertise and vast sourcing network open to JP across Europe. The team uses the support and expertise of consultants PKF Hospitality to identify target assets and decide on the upgrade strategy.

Gebhard Schachermayer, co-Head of JP HIC said the team is ready to start the process once more: “The pipeline of attractive acquisition targets has notably increased in the last couple of months and we are excited to deploy more capital in the coming months and years.”

In April 2024, JP Immobilien also celebrated the opening of the Hoxton hotel in Vienna. The project saw it convert an office building in the city to create a 196 room hotel, with two bars, a destination restaurant and a rooftop poolside bar, completed for operation by Ennismore’s Hoxton brand. The lifestyle hotel brand group agreed to lease the newly completed building in a deal signed in 2020.

Zermatt reformat

The JP Immobilien project pipeline includes the planned conversion of the Antares hotel in Zermatt, to a Bikini Island branded resort property. The 75 room upgrade is expected to be completed in 2026, and will be one of the few genuine ski in, ski out properties in Zermatt.

In Trieste, Italy the group is working up plans to transform a historic hotel into the new Vienna Grand, which will have 159 rooms plus cafes, shops and even its own cinema. For the lucky few, there will also be the opportunity to purchase one of a small number of apartments in the upgraded building.

Daniel Jelitzka, founder of JP Immobilien Group added: “Despite a challenging market environment, the investment proposition behind both JP HIC and the Hoxton in Vienna, has proven to be spot on as lifestyle assets in top locations have exhibited great results.”