Serviced apartment operator Bob W is growing its presence in the German city of Munich with the addition of a fifth property.
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The Finland-based company has signed a lease for a building in Arnulfpark, which is located within Munich¡¯s Tech Quarter.
Bob W said that the property, which was formerly used as a boarding house, will undergo a comprehensive refurbishment as it is converted into studio and one-bedroom units. It is due to open this winter.
Niko Karstikko, co-founder and CEO of Bob W, said:?¡°Munich is one of Europe¡¯s most supply-constrained hospitality markets, and Arnulfpark is exactly the type of location where we see long-term opportunity.
¡°With our tech-powered, design-led apartments, we¡¯re helping landlords transform existing assets into sustainable, flexible accommodation while giving guests and companies a smarter alternative to hotels and short-term rentals.¡±
Bob W already has three properties in the city, as well as a location at Munich Airport. It plans further expansion in Germany with signed properties in Berlin, Hamburg, Stuttgart, Cologne and Dortmund.
The serviced apartment brand, which was founded in 2018, currently has 38 properties across Europe, including eight locations in London, as well as properties in Helsinki, Copenhagen, Amsterdam, Stockholm, Oslo, Madrid, Milan and Athens.