Apr 2018
H.H. Holding

Feasibility Study

Operator Search

Contract Negotiation

citizenM Copenhagen

NHC advised family office H.H. Holding on the operator search and lease contract negotiations for the conversion of the historic Dagmarhus in Copenhagen into a 238-room citizenM Hotel. The Hotel opened in late 2018 as the first citizenM in the Nordics.

Before initiating the operator search, NHC delivered a thorough feasibility study building and comparing several hotel operating cases. The feasibility study supported H.H. Holding in the decision making, taking the right route for further life of the asset, that previously served as office domicile for a large law-firm. Furthermore, the feasibility study supported the operator search and later contract negotiations, contributing to a value adding case for both hotel-owner and operator.

In the operator search, we utilised our broad international- and local network together with our deep understanding of the market to identify the right long-term operator. Throughout the contract negotiations we supported and guided the owner in all commercial aspects and the successful paring of an international hotel operator with a local real-estate owner.

CitizenM and their project in Copenhagen won the NHC Conference award in 2018, an award given by the industry recognising efforts to develop the industry. citizenM secured a city center lease deal in Copenhagen. This marks the Nordic entry for citizenM and one of the few lease deals done by an international operator in the Nordics.