DGAP-News: EVAN Group plc. / Key word(s): Alliance/Real Estate
EVANGroup signs cooperation agreement with DEHOGA Hesse - Frankfurt am Main District Association
- Cooperation partners announce mutual Preferred Partner relationship
- Rapid growth of Frankfurt's hotel sector demands appropriate living concept for employees
- Target group feedback has decisive impact on key planning phase for Lyoner Straße property
The Frankfurt hotel market is one of the fastest growing in Europe. This boom is being accompanied by an above-average increase in employment within the hotel and catering sector, whereby accommodation for the skilled staff is increasingly developing into an important human resources issue. Around one third of the employees are under 35 years of age and a high degree of mobility as regards their place of work is expected of this group during their first few years. However, the commitment and flexibility of junior staff is being increasingly hindered by the shortage situation that prevails on the housing market. This is further aggravated by the fact that more than a third of the employees in the hospitality and catering industry are foreigners, and these individuals have to overcome even greater hurdles when looking for somewhere to live locally.
"The cooperation with the Frankfurt am Main District Association of DEHOGA Hesse is very important for us. We are already registering a high demand for our serviced apartments for hotel employees. DEHOGA is a competent discussion partner for us in this area," says Ulrich Beckmann, Managing Director of EVAN Technology & Services. He continues: "Almost EUR 4 billion was invested in new hotels last year. But such investments only pay off if these hotels can also draw on enough proficient service personnel. These employees can only work with dedication and enthusiasm if they too have adequate accommodation, and this is what we want to channel through the DEHOGA association."
"The EVAN Group concept addresses an important need of our 550 members," notes Eduard M. Singer, Chairman of DEHOGA Frankfurt am Main and Deputy President of DEHOGA Hesse. "We take our responsibility as an employer very seriously. The hospitality industry is a powerful job engine with continuing above-average growth rates. These people are the backbone of our local tourism industry. Our goal is to find employees and keep them at our enterprises operating in Frankfurt. An affordable apartment in combination with a suitable job in the hotel and restaurant industry means a high quality of life. With the EVAN Group and through other initiatives started by the City of Frankfurt, we want to provide inspiration and show our employees that we have great companies in Frankfurt and that we are an industry that can be relied upon, an industry that gives support and that reaches out its hand to welcome and to help."
EVAN is planning the Lyoner Straße property as an innovative solution for both employers and employees in hospitality and catering. As part of EVAN's livinit concept, 375 serviced apartments of various sizes are being created, informed by feedback from the target group that was already gathered during the conception and design process. Further areas on the site are reserved for the provision of infrastructure and services to the residents.
"The market for serviced apartments continues to show high growth rates, and MicroApartments are still very much in vogue," as Dr. Michael Nave, Director and CEO of EVANGroup, points out. "However, a successful concept requires a high degree of target group affinity. Those who want to keep an eye on their vacancy rate should incorporate the needs of the final tenants in the planning right from the start." As regards the Niederrad location, Nave explains: "Our property at Lyoner Straße 11 is highly distinctive in character with its listed façade. Through the conversion of the former office building into a residential building, we are contributing to the district's revitalisation. Our final tenants are young employees in small and medium-sized enterprises with modern demands on their quality of life. We therefore place great store on equipping the residential units with attractive fixtures and fittings."
About the hotel market in Frankfurt am Main:
During the first half of 2018, Tourismus+Congress GmbH Frankfurt am Main recorded a 3.2 percent growth in the number of hotels to 289, following a strong increase of 9.0 percent throughout the whole of 2017. By November 2018, the number of overnight hotel stays had reached a figure of around 5.5 million, which corresponds to a rise of 6.6 percent over the comparable previous-year period.
About EVANGroup plc:
EVANGroup plc is an institutional owner-operator of commercial properties in the top 10 German cities, using their long-standing experience to create value in underserved niche markets, such as micro living for students and professionals, workers' accommodation and specialty commercial properties. EVAN is following in the footsteps of UNIMO Real Estate Holding AG, in which EVAN's owners have completed numerous transactions over the past two decades.
Using a best-in-class approach in corporate structure and governance, EVAN focuses on developing and managing real estate projects specifically created for institutional investors. One example is IMOTEX in Düsseldorf (www.imotex.de), the largest and best-known Pronto Moda Center in Europe, with over 55,000 square metres of rental space.
EVANGroup plc is building its current and future portfolio of commercial and residential real estate in Germany on a three-pillar strategy: livinit (development and management of commercially used residential properties); shopinit (development and management of retail niche formats); and sleepinit (development and specialised operation of accommodation for construction or contract workers).
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12.02.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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