The internationally operating hotel group citizenM becomes anchor tenant at Rue du Marché 40 in Geneva. citizenM will open a 144 room boutique hotel following the current comprehensive renovation, which is expected to last until mid-2020.
Property News
for immediate publication
15 September 2017
First citizenM Boutique Hotel in Geneva
The internationally operating hotel group citizenM becomes anchor tenant at Rue du Marché 40 in Geneva. citizenM will open a 144 room boutique hotel following the current comprehensive renovation, which is expected to last until mid-2020.
PSP Swiss Property owns the property since July 2002. Until the end of 2016, the space was mainly used for offices. Since then, the building – realised in the 1970s – is under comprehensive renovation.
The decision to reposition the building for main use as a hotel was taken in collaboration with citizenM. Favouring this use are the top location and excellent public transport connections. The remaining space, which is partly let, will be dedicated to retail.
PSP Swiss Property will invest approximately CHF 30 million for the renovation work.
Visualisations (Renderings)
www.psp.info/rue-du-marche-geneva
Information on the project
Reto Grunder, Asset Manager · reto.grunder@psp.info
Tel. +41 (0)44 625 50 72 · Mobile +41 (0)78 852 71 71
Hotel operator
citizenM
Birgit Schmoltner, Head of PR · press@citizenm.com
Mobile +43 (0)660 3081100
PSP Swiss Property
Vasco Cecchini, CCO · vasco.cecchini@psp.info
Tel. +41 (0)44 625 57 23 · Mobile +41 (0)79 650 84 32
PSP Swiss Property – a leading Swiss real estate company
PSP Swiss Property owns a real estate portfolio worth CHF 6.9 billion in Switzerland’s main economic areas; its market capitalisation amounts to CHF 4.0 billion. The 84 employees are based in Geneva, Olten, Zug and Zurich.
PSP Swiss Property has been listed on the SIX Swiss Exchange since March 2000 (symbol: PSPN, security number: 1829415, ISIN CH0018294154).