• Union adds German Holiday Inn to portfolio

German investor Union Investment has purchased the Holiday Inn Express in Dresden to add to one of its property funds. The 218 room hotel, currently under development by Foremost Real Estate Dresden, is scheduled to open in  summer 2011.

Union’s first foray into hotel investments in Germany was its purchase of the Holiday Inn Express in Hamburg in 2008; there are currently 19 Holiday Inn Express branded hotels in Germany.

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