Dolce Continues European Expansion

MONTVALE, NJ— Dolce International has acquired its first conference destination in Germany— the newly dubbed Dolce am Kurpak (formerly known as Parkhotel Bad Nauheim)— which fits into the companys European expansion plan it started last year when it received a cash infusion from Soros Real Estate Investors (SREI). The acquisition also marks the start of what Andy Dolce, Chairman/CEO, hopes will be a string of Dolce conference destinations in Germany. “Germany is fertile for us. Its economy is coming back. Companies hold meetings there. And the government seems to be beginning to sell some of its owned assets,” Dolce told HOTEL BUSINESS®. “Were trying to exploit that… And we hope to have something under contract by year-end.” Destinations in Germany besides this one near Frankfurt that Dolce is targeting include Munich first, then Dusseldorf and Cologne. In addition, the global conference center company, based here, “is breaking ground in Barcelona, and narrowing down sites in Milan and Rome [for new development],” said Dolce, who noted that hed like to keep a 50-50 balance of new development and acquisitions, such as this German one, to get into the companys desired markets and get exactly what the company is seeking in a property. Currently, Dolce has 22 assets in its portfolio, which include Dolce Skamania Lodge in Stevenson, WA; PGA National Resort & Spa in Palm Beach Gardens, FL; Dolce Chantilly in Chantilly (Paris), France; and Dolce Norton Manor in North Hampshire, U.K. “At the same time next year, wed like to be at 25, and in three years, at 35,” said Dolce Dolce partnered with SREI on this acquisition— which was facilitated by NIB Capital Bank in The Netherlands— and bought Dolce am Kurpak from the German government for an undisclosed amount. Its located in Bad Nauheim, near Frankfurt, a major gateway city in Germany that Dolce termed “strong.” “Its in a strategic location— Frankfurt. It fits into our plan perfectly. Its a major European city, near the airport,” said Dolce. “The product itself [also]has everything we were looking for— the right amount of guestrooms, the appropriate dining areas, meeting area, etc. It met all our criteria,” added Dolce. Thus, it was well worth it to go through the paces of purchasing the property— which is situated on a 200-acre site in a state park— from the German government. It was last spring when Dolce International saw the property and decided to buy it, and in the year leading up to the purchase, Dolce said the company had to go through “several levels of state officials and departments, and get final approval from the German parliament, since they were the legal owners.” During that approval process, there were heavy negotiations regarding labor issues, and fire and safety issues. Dolce said the government was concerned about the employees at the hotel, and so eventually a compromise was struck which allowed Dolce to bring in some of its own people while still allowing some of the senior staff members remain on the state payroll and some select personnel remain on to be given a shot at working at the made-over property. As for the fire and safety issues, Dolce negotiated with the government on who would pay for what on the property to bring it up to modern standards. The company also plans on spending 7 million Euros (USD$6,638,091) on renovating and upgrading the property, “starting July 6, 2002,” said Dolce. All enhancements should be completed by next year. In that time the 160-room property will receive updated guestrooms, dining areas and public spaces, as well as “proper” lighting and technology to bring the property up to Dolce International conference-center standards. Additionally, the exterior will be painted and signage will be improved. Dolce am Kurpak features a classical Kurhaus building and an 800-seat theater, and it combines modern facilities with Jugendstil (Art Noveau) style and architecture. Currently, the property has 22 meeting ro