The conglomerate that owns European hotel company Steigenberger Hotels has bought back the chain's founding hotel in Baden-Baden, Germany.
Brierly Gardens Investments Limited, a Cyprus-based company that owns Steigenberger Hotels, announced last month it had acquired Steigenberger Europaischer Hof.
Founded by Albert Steigenberger in 1930 the Steigenberger Hotels chain now operates 80 hotels across Germany, Austria, Switzerland, the Netherlands and Egypt.
Brierly Gardens bought the hotel off DP Global Properties, which acquired the asset as part of a portfolio, but has sold it in an effort to focus on its retail and office properties.
Chief executive of Steigenberger Hotels Puneet Chhatwal said the Baden-Baden hotel is a significant part of the company's history and extensive investment is planned to return the building to its former glory.
The 120-room hotel has seven conference rooms, a restaurant and bar, and a fitness and wellness centre.
