The property, featuring 478 rooms, is scheduled to welcome its first guests in Q4 2014. It is to be the biggest hotel in the Park Inn portfolio for meetings and conferences, offering a massive 4,000 sq m of meeting space including a ballroom of 900 sq m.

The 28,000 sq m building is located in the West side of Amsterdam next to the Sloterdijk Railway station, just 10 minutes from Schiphol Airport and four minutes from the Amsterdam Central Station in the city centre. In addition to the 478 stylish rooms and 4,000 sq m of meeting space, the hotel will feature an all-day-dining restaurant, an à la carte restaurant, a lobby bar, a gym and 300 indoor parking bays, making the hotel an exciting choice for events and conferences.

"Amsterdam is Europe’s third largest hotel market – it is very attractive for both business and leisure travellers – and a key development city for Rezidor. The new Park Inn by Radisson enjoys a highly visible location in West Amsterdam, and will further strengthen our brand awareness in the Benelux region," said Kurt Ritter, President & CEO of Rezidor.

Park Inn by Radisson Amsterdam is the main component of the redevelopment of the largest vacant office building (35,000 sq m total) in Amsterdam. The accessibility of the building next to the Sloterdijk railway station and the Amsterdam ring road make the building very suitable for a conference hotel.

"Last year we invested significantly in the sustainability of the building, transforming it into a fully green building. We are very happy with the new future of the building together with Rezidor in these difficult times and we look forward to a successful relationship together," says Heinz Schulz, Managing Director of the Europe 1 fund.

Colliers International advised Europe 1/Aberdeen Asset Management in the redevelopment and assisted in the transaction with the Rezidor Hotel Group.

Aberdeen Asset Management is responsible for the asset management of the building on behalf of the Europe 1 fund.

D/Dock Architects is responsible for the design of the hotel.