Kempinski Hotels has partnered with 12.18. Investment Management to launch luxury lifestyle brand, 7Pines Kempinski. Plans call for growing its portfolio to 20 new hotels and resorts by 2022. The investment will be $552.9 million.
The first hotel will launch in New York City via a conversion of the San Carlos Hotel, which 12.18. acquired. This project will mark the first time 12.18. has expanded outside of Europe in its 122-year history.
“New York has always been a dream destination for Kempinski Hotels and this important partnership makes it a reality,” says Martin Smura, ceo and chairman of the board of Kempinski Hotels. “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.”
Kempinski Hotels has 78 hotels in 34 countries. 12.18. Group offers investment, development and hotel management. The company’s flagship is the 7Pines Resort on the west coast of Ibiza, which opened last year.
Photo: Courtesy of Kempinski Hotels
From left to right: Carsten Rath, chairman of the supervisory board of 12.18. Investment Management GmbH; Martin Smura, ceo and chairman of the management board of Kempinski Hotels; Tim Raue, founder and ceo of restaurant Tim Raue; Kai Richter, managing partner of 12.18. Investment Management GmbH; Jörg Lindner, managing partner of 12.18 Investment Management GmbH; Markus Lück, managing director of 7Pines Hotel Management GmbH