NL – PingProperties acquires office building to be transformed in a hotel.

PingProperties Hotel Fund I has acquired the office building at the Piet Guilonardweg 3 at Schiphol. PingProperties will transform the building to a Tulip Inn hotel complex, to be managed by the Louvre Hotel Group. The opening of the hotel is due in the fall of 2016.

CVO supported PingProperties in the acquisition phase with strategic advice concerning both the acquisition and the re-development. Further to the acquisition CVO co-managed the tendering process and the project management of the re-development.

The new boutique hotel building will have 143 rooms and it will receive a “Green Key”-label, an international sustainability label in the hospitality & leisure branch.

Based on an articles by PingProperties of 25 March 2016.