Luxury Home Away from Home

Julius Meinl Living, through its group companies, acquires prime real estate assets for development into “aparthotels” that the group will then operate itself, under the “Julius Meinl House” brand.

Serviced residences – also known as serviced apartments, aparthotels or extended stay spartment – are established as an alternative to classical hotels in the US, Asia and parts of Western Europe.

In Central Europe however, the sector is still underdeveloped, even though the demand for such alternative accommodation is rising fast.

 

background-image

Aparthotel & Services

The average size of the aparthotel rooms will be approximately 35m2. Each room will comprise a spacious multi-media lounge, a well-equipped kitchen, bedroom and bathroom. The rooms will be positioned as offering five star accommodation for four star prices.

Each property will offer a variety of normal hotel services, and through imaginative use of technology, will enable a much wider range of third party services that will enhance the visits of business and leisure travelers alike.

background-image

Luxury Home
Away from Home

The Properties

The group’s first property is under development on Senovazne Namesti in Prague, in the Czech Republic, and will have 168 guest rooms and apartments. The main construction works commenced in July 2019 and are now substantially complete. The property is on track to open in the fourth quarter of 2021. To ensure that the property trades successfully upon opening, Julius Meinl Living is currently building its hospitality, sales and marketing teams.

The group’s second property is on Bulevar vojvode Bojovica in Belgrade, Serbia and is part of a wider development called “K-District”. Julius Meinl Living has contracted to acquire this property by means of a binding forward purchase agreement. It will have 129 guest rooms and apartments in addition to 96 underground parking spaces. Construction of this property is underway and opening is targeted for the second quarter of 2022.

The group’s third property is in Budapest and was acquired in June 2021. It has 50 guest apartments and is already operating.

The properties have been designed in collaboration with the Italian design and architecture consultancy, Matteo Thun Partners

Central Europe & Beyond

Julius Meinl Living can invest across the EU and potentially also in adjacent countries, however its initial focus will be on capital cities such as Prague, Budapest, Bucharest and other Central European capitals as Julius Meinl Living believes that these are currently the most attractive for its business model.