DLA Piper has advised one of the world’s leading hotel companies, the InterContinental Hotels Group ("IHG"), on a EUR 60 million investment in InterContinental Berlin. The funding, delivered with Union Investment, will be used modernise the hotel, bolster its profitability and protect the long-term value of the building.

First opened in 1958, the InterContinental Berlin is one of the most famous hotels in the German capital. It is part of a portfolio belonging to one of Union Investment’s open-ended real estate funds, operated by IHG. The hotel will remain open during the upgrade works of the 558 guest rooms.

IHG is a global brand with a broad portfolio and development pipeline of more than 1,800 hotels. The company franchises, leases, manages or owns approximately 5,600 hotels and 835,000 guest rooms in almost 100 countries.

The DLA Piper team was led by Munich-based Real Estate partner Dr Martin Haller, and comprised Frankfurt-based Tax partner Dr Bjorn Enders, and Real Estate associate Markus Kotowski in Munich.