Frankfurt, 28 January 2008  Vivico and Hyatt International today signed a management agreement for a Grand Hyatt Hotel in the 5 star-plus category. The hotel will take the form of a tower around 150 metres high on the Osloer Strasse in Frankfurt's Europaviertel.
Bernhard H. Hansen, Chief Executive Officer of Vivico, emphasized the following points on signing the agreement: "Vivico is proud of acquiring the highly renowned global operator Hyatt for the prestigious location of Frankfurt and the Europaviertel." Hansen believes Hyatt's investment underscores the quality of the regenerating district and highlights the significance of the Europaviertel for Frankfurt.
"We are delighted that our new hotel will secure a foothold for us in the important banking and conference centre of Frankfurt", said Gebhard Rainer, Managing Director Hyatt International Europe, Africa, Middle East. "Our innovative and modern product which meets the highest international standards is eminently suited to Frankfurt. The Grand Hyatt Frankfurt will form the ideal complement to our existing range of successful hotels in Cologne, Hamburg, Berlin, Mainz, as well as the one due for completion in Düsseldorf in 2010, and will strengthen our position in the German market." To date, the Hyatt Group has only had one premium-brand "Grand Hyatt" hotel in Germany, notably in Berlin.
The conclusion of the agreement was initiated by Viador, a joint venture between the Feuring Group and Vivico, established as recently as 2007. Viador will continue to supervise the project and operations.  Vivico will be in charge of constructing the hotel until it is ready for handover in turnkey condition. The next step will be the architectural design; the building application is to be submitted before the end of 2008. The hotel tower is scheduled for completion in 2011/2012.
The tower will cover a gross floor area of approx. 54,300 square metres. Facilities including around 405 rooms, restaurants, bars and a fitness and wellness area put the hotel firmly in the premium category. There are also plans to build a publicly accessible visitor centre offering views of Frankfurt's skyline.