In January 2013, a new luxury boutique hotel opened its doors in a former diamond factory in Amsterdam’s De Pijp neighbourhood. This newcomer, the Sir Albert, will welcome guests seeking both a base for business and to explore Amsterdam – and it’s not the only new accommodation in town. A number of recent openings illustrates that Amsterdam is a true hotspot for investors in the hotel industry, especially those operating in the luxury segment.
Early in 2012, the Conservatorium Hotel located between Amsterdam’s exclusive shopping street, the PC Hooftstraat, and the Van Gogh Museum – opened its revolving doors. Condé Nast Traveller put this 129-room hotel, located in a former music conservatory and part of Israeli luxury chain The Set, on its hot list for 2012, calling it ‘a visual feast’.
A few months later, in October 2012, the Andaz Amsterdam Prinsengracht hotel opened in the city’s historic centre, making Amsterdam only the ninth city in the world to host an Andaz Hotel and the first in continental Europe. With the opening of the Andaz Amsterdam, Hyatt celebrated its 500th hotel in the world.
One of eight different hotel brands operated by the internationally-renowned Hyatt chain, Amsterdam’s boutique Andaz hotel offers 117 rooms and five suites, all created by celebrated Dutch designer Marcel Wanders. The rich and vibrant history of the Netherlands inspired Wanders’ design, which incorporates references to the Golden Age, Delftware ceramics and – of course – the ubiquitous tulip.
More to come
In 2014, the legendary Waldorf Astoria is set to open a 94-room hotel on the prestigious Herengracht canal. According to Patrick Fitzgibbon, senior vice-president of development for Europe and Africa at parent company Hilton Worldwide, "Waldorf Astoria Amsterdam will be an exceptional addition to our luxury portfolio. We are particularly pleased to see growth in Amsterdam, which is one of Europe’s most popular tourist destinations."
Additionally, existing five-star hotels have invested millions of euros in the quality of their product: the Sofitel Legend The Grand, Hotel Okura and Hotel de l’Europe have all dug deep to upgrade their hotels to the next luxury level. International chains select Amsterdam because of the many opportunities it offers international hotel developers.
According to real estate consultancy firm CBRE, the hotel market in Amsterdam performed excellently in 2011 and is expected to have developed favourably in 2012 too. CBRE’s vision for Amsterdam’s hotel market is shared by many other experts in the field. A 2012 study by Roland Berger Strategy Consultants revealed that Amsterdam is among Europe’s top performers in terms of growth in the number of overnight stays in the last five years. The report also concludes that Amsterdam is one of the most attractive cities in Europe for tourists. The demand for hotel rooms in the city is expected to increase by 2.7 per cent per year. To meet this demand, the City of Amsterdam is constantly working to add new hotel rooms to its inventory.