Centralis Immobilien Acquires Two Cologne Hotels Near Hauptbahnhof for Conversion to 233 Serviced Apartments, With Bob W as Operator
Centralis Immobilien has acquired two former hotel properties directly adjacent to Cologne Central Station, with plans to convert both buildings into a combined 233 serviced apartments. The seller was a French insurance company. JLL and Cushman & Wakefield acted jointly as brokers on the transaction, announced Sept. 7, 2026.
The two properties — the former Wyndham Köln at Breslauer Platz 2 and the former TRYP Köln City Centre at Domstraße 10 — will undergo comprehensive refurbishment before being repositioned as modern serviced apartments. Bob W, a technology- and AI-powered hospitality operator, has been signed as the long-term operator of both assets.
Property Details: Two Assets, One Central Location
The Breslauer Platz 2 property sits directly opposite Cologne Central Station and was formerly operated under the Wyndham brand. Centralis plans to create 134 serviced apartments at the site, along with food-and-beverage space on the ground floor. The planned lettable area totals approximately 4,900 square meters, or roughly 52,743 square feet.
The second property, at Domstraße 10, housed the TRYP Köln City Centre hotel. Its conversion will yield 99 serviced apartments and 15 underground parking spaces, with a total planned lettable area of approximately 2,700 square meters, or about 29,063 square feet. Together, the two assets represent a combined lettable area of approximately 7,600 square meters.
Centralis appointed apoprojekt as design-and-build contractor and general-planning partner for both projects. The firm operates from seven locations across Germany and employs approximately 600 people, and has delivered more than 5,000 projects with aggregate construction value exceeding €2.5 billion. apoprojekt has previously worked with Centralis on earlier conversion projects.
Bob W Expands DACH Footprint With Cologne Commitment
Bob W, which operates a portfolio of more than 90 assets and over 6,000 apartment units and hotel rooms across Europe and the United Kingdom, will manage both Cologne properties on a long-term basis. The operator's model targets business and leisure travelers through a technology-enabled, full-service aparthotel format.
Herman de Beer, Vice President Real Estate of Bob W, said Cologne represents one of the most sought-after hospitality markets in Europe and that the location adjacent to Cologne Cathedral is "simply unique." He added that Germany and the wider DACH region are "a clear priority" for the company and that the Cologne properties are among several planned openings.
Centralis Cites Buyer's Market Conditions
Dr. Fabian Vieregge, Founder and CEO of Centralis, described the dual acquisition as consistent with the firm's approach of securing properties in prime locations across Germany's major cities and repositioning them as sustainable hospitality products. He cited the firm's partnerships with digital hospitality operators and its in-house development and conversion expertise as key elements of the strategy.
Felix Lorenz, Head of Investment of Centralis, said the transaction demonstrated the firm's ability to assess complex projects across teams — from analyzing existing assets and their potential through to fully planned transformations — and to incorporate each element progressively through to closing. He described Centralis as a reliable partner for sellers navigating that process.
Nina Grauting, Branch Manager Düsseldorf at apoprojekt, said the renewed mandate reflects the trust built through prior collaboration with Centralis on complex urban transformation projects.
Cologne Hotel Market Context
The acquisition comes as Cologne's lodging market shows strengthening fundamentals. The city recorded approximately 4.25 million visitors and 7.22 million hotel overnight stays in 2025, increases of 2.3% and 1.9%, respectively, from the prior year. Accommodation supply grew moderately to approximately 38,865 hotel beds, while average bed occupancy edged higher.
Event-driven demand has supported elevated pricing in the market. In October 2025, Cologne recorded 80.8% occupancy, a €189.43 average daily rate and €153.06 RevPAR, with year-over-year gains of 11.7%, 55.6% and 73.9%, respectively, partly reflecting the Anuga trade fair. The city accounted for approximately 16% of Germany's hotel transaction volume in one 2025 market review, with roughly €130 million invested across approximately 600 rooms at an average of about €220,000 per key.
The broader serviced-apartment segment has also attracted growing capital. Germany's serviced-apartment inventory expanded at an average annual rate of 9.2% from 2019 through 2025, with more than 7,500 additional units under development. Serviced apartments represented approximately 24.2% of Germany's total hotel pipeline in 2026 reporting, with national serviced-apartment occupancy reported at approximately 73%. German hotel and accommodation transactions totaled approximately €163 million in the first quarter of 2026, with the rolling 12-month volume reaching about €1.7 billion, roughly 24% above the comparable prior-year period.
Centralis is an owner-managed investment and development company focused on serviced apartment and boarding house concepts in urban locations across German A and B cities. The firm's Cologne acquisitions follow a 2025 majority investment by ActivumSG that included the Centralis platform and nine seed assets in cities including Berlin, Bonn, Lübeck, Hamburg, Düsseldorf and Nuremberg.
Sources
More Property Transactions
Leonardo Hotels Central Europe Acquires Four Former Revo Hotels, Adding 1,040 Rooms Across Berlin, Düsseldorf and Dortmund
