Hotel Ellington on the brink of collapse, KaDeWe investor in the starting blocks

BerlinEnd of a chapter: The Ellington Hotel on Nürnberger Strasse closes its doors on August 16. The lease ends on September 30th. Meanwhile, the rumor mill is simmering: The background is supposed to be the takeover of the owner company by the Austrian real estate group Signa. This was first reported by the “Gourmetwelten” web portal last Friday. According to media reports, a takeover offer has already been made for around 80 employees at the Ellington Hotel. The sister hotel Estrel Berlin in Neuköllner Sonnenallee wants to step in.

The Signa Group, which was founded by the Austrian billionaire René Benko, has several luxury hotels such as the Park Hyatt in Vienna in its portfolio. The British newspaper The Times speculated on Friday, albeit quickly, that the group was not pursuing an expansion of this portfolio with the investment. You bet on another card. The Austrians also own the property through a subsidiary that houses the Kaufhaus des Westens (KaDeWe). You run the department store through another company as its majority owner – alongside Chinese investors. According to the report, the Signa Group could plan to expand KaDeWe and thus replace Europe’s largest luxury department store to date, Harrods in London.

The Ellington was extensively converted into a hotel 14 years ago after it had been empty for a few years as a former administration wing. The almost 200 meter long building complex at Nürnberger Straße 50-55, also known as Femina Palast, was built in the late 1920s and is a listed building.

In the meantime, an area on Passauer Strasse not far from the Ellington Hotel is being converted into a multi-storey car park and other KaDeWe facilities. The Signa Group has not yet commented on the takeover reports.



Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Recent News

Editor's Pick