Munich is the most expensive place to live in Germany and with rents on the rise, BMW, one of the city’s biggest employers, has decided to build a hotel to house its workers.
In 2015, BMW plans to battle the rising rents by opening a 270-room hotel for its short-term workers in Munich’s northwestern district of Moosach.
The car manufacturer intends to use the three-storey building to house foreign workers and as a transitional home for German employees.
It will also serve as accommodation for BMW trainees who cannot afford the high Munich rents.
Marcus Müller, from developer Strabag Real Estate, said: “For the BMW employees that are housed in the hotel, the location could hardly be better.”
BMW’s management, development and production departments are all within walking distance of the U-shaped hotel.
Thomas Hohwieler, director of Strabag, said: “The search for qualified professionals is more important today than it ever was. Factors such as attractive and uncomplicated accommodation for the workforce play a role.”
Research from May 2014 by property website immowelt.de showed rents in Munich had risen by three percent since June 2013. The average cost of rent per square metre is now €16.20.