New Kempinski Brand

Kempinski Launches 7Pines Kempinski Luxury Hotel Brand

The San Carlos Hotel - Entrance
The San Carlos Hotel will operate as the 7Pines Kempinski Manhattan

Kempinski

Düsseldorf-based 12.18. Group and Kempinski Hotels S.A. today announced the launch of their luxury lifestyle concept 7Pines Kempinski. The two partners have joined forces to create one of the leading lifestyle hotel products in the luxury segment.

Jörg Lindner and Kai Richter, Managing Partners of 12.18. Investment Management, together with Martin R. Smura, Chief Executive Officer and Chairman of the Board of Kempinski Hotels, announced the strategic alliance at the Expo Real real-estate trade fair in Munich in front of approximately 150 guests.

"The Kempinski brand has stood for tradition and excellent hospitality for more than 120 years. This represents an important step in our growth strategy,” said Smura. “Thanks to the cooperation with 12.18., we will be able to offer our guests a lifestyle concept of the highest standard in the future.”

As Europe's oldest luxury hotel group, Kempinski Hotels has 78 hotels in 34 countries and stands for the highest standards of quality and service throughout the world. The 12.18. Group has made a name for itself in recent years as an investor, project developer and in the modernization of hotels and restaurants. As an expert for high-class investments in the hotel and holiday real estate sector, the 12.18. Group offers investment, development, and hotel management from a single source. The company's flagship is the 7Pines Resort on the west coast of Ibiza, which was opened last year.

With the development of 7Pines Kempinski, 12.18. wants to grow by 20 new hotels and resorts by 2022 and, in cooperation with institutional investors, place 500 million euros in investment capital. As part of the expansion course, 12.18. is also expanding its portfolio outside Europe for the first time with the acquisition of the San Carlos Hotel in New York City. After thorough renovations, the San Carlos Hotel will operate as the 7Pines Kempinski Manhattan.

"The acquisition of the first property in the US represents a milestone in our company's history," commented Lindner. “New York has always been a dream destination for Kempinski Hotels and this important partnership makes it a reality," Smura continued. "Kempinski is now represented in New York and at the heart of Manhattan and we look forward to welcoming the first guests to this vibrant metropolis."

As a shareholder and strategic partner of 12.18., the pension fund of the Berlin Dentists' Association (Versorgungswerk der Zahnärztekammer Berlin - VZB) also welcomes the takeover of the first property in the United States. Dr. Ingo Rellermeier, Chairman of the VZB Administrative Committee and member of 12.18.'s Advisory Board, sees the acquisition as a symbol of the successful cooperation between 12.18. and the VZB and as a representation of a cornerstone for the expansion into further high-class tourism destinations.



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