A landmark hotel in the heart of Munich’s Old Town has reportedly been sold for €150 million, translating to approximately €2.06 million per key. The property, comprising 73 guest rooms, three restaurants, a bar, and three meeting rooms, enjoys a prime location just steps from the historic Marienplatz square.
The transaction is expected to close within the next six to eight weeks.
A Storied Past
The neo-Renaissance building was originally constructed between 1875 and 1880 during the reign of King Ludwig II. Designed by Johann Kilian Stützel and Anton Roth, it opened as the Central-Säle, a grand event venue featuring several ballrooms. Stützel became the sole owner in 1877 after acquiring Roth’s share.
In its early years, the building hosted debutante balls and served as the first home of the Kaim Orchestra—the forerunner of the Munich Philharmonic. It remained under the ownership of the Stützel family until shortly after World War I.
In 1919, the property was sold and repurposed as office space for a sewing thread manufacturer. It suffered damage during World War II but was rebuilt in 1945. In subsequent decades, the building changed hands multiple times. One notable chapter saw financier-artist Manfred Rubesam convert it into an antiques shopping center, Antique Haus. The venture proved unsuccessful, and the property was eventually foreclosed upon in 1987 under its next owner, Erich Kaufmann.
Transformation into a Luxury Destination
In the late 1980s, hotelier Georg Rafael—co-founder of the Regent Hotels brand—acquired the building and oversaw its transformation into a luxury hotel. The Hotel Rafael Munich officially opened its doors in May 1990.
A decade later, in 2000, the Mandarin Oriental Hotel Group acquired Rafael’s four-property portfolio for $142.5 million. The Munich hotel was rebranded as the Mandarin Oriental, Munich.
During renovation works, part of Munich’s medieval city wall was discovered within the building’s foundation. A section of this historic structure remains visible in the hotel’s cellar, offering a tangible link to the city’s past.
The hotel has undergone several rounds of refurbishment. In 2007, all 48 rooms and 25 suites were renovated, followed by a comprehensive upgrade of the public areas in 2015. This included the opening of Matsuhisa Munich—a high-end Japanese-Peruvian restaurant by celebrity chef Nobu Matsuhisa—alongside Bar31 and a redesigned reception lounge.
The Mandarin Oriental, Munich was named to Condé Nast Traveler’s prestigious Gold List in 2011, underscoring its standing as one of the city’s most exclusive hospitality landmarks.
