HOCHTIEF Projektentwicklung is building a 144-room hotel on Petriplatz in Berlin-Mitte. Construction will start at the end of this month. Frasers Hospitality bought the property off-plan and will start operating the hotel at the beginning of 2017. It was agreed that the purchase price would not be disclosed.A seven-story building with an above-grade gross floor area of about 7,700 square meters will be built on a lot of around 1,500 square meters between Scharrenstrasse, Gertraudenstrasse and Breite Strasse. The lobby will feature a glass floor slab beneath which visitors will see an archaeological monument: the foundations of the vaulted cellars of old burgher houses on the former site of the Cölln Town Hall. This site is seen as one of the points from which the development of modern-day Berlin began. "Frasers Hospitality‘s long-stay concept is geared to the rising demand for temporary accommodation with all the comfort of a hotel in a premium business location. We are see a growing demand for this, particularly in Berlin," explains Gordon Gorski, Manager of the Berlin-Brandenburg branch of HOCHTIEF Projektentwicklung. "The new Capri on Petriplatz and its central location are the perfect answer - and it is ideal for city tourists too."