Luxury operator Rosewood Hotels & Resorts has signed a management deal with German real estate company Bayerische Hausbau for a 132-key spa hotel in Munich, Germany.

Scheduled to open in 2023, the hotel will be housed in two landmark, historical buildings – the former headquarters of the State Bank of Bavaria and the adjacent Palais Neuhaus-Preysing, a former grand aristocratic residence dating from the early 18th century.

Rosewood Munich will be the brand’s first property in Germany and seventh in Europe. Facilities will include a full-service spa with five treatments rooms, an indoor pool and a health and fitness club.

“With its rich history and distinct culture, Munich is an ideal destination for Rosewood’s ever-expanding global portfolio,” says Sonia Cheng, CEO of Rosewood Hotel Group.

“Combining the long-standing traditions and heritage of Bavaria with the dynamism of modern Germany, Munich offers guests a unique glimpse into the distinct character of the region and gifts all who visit access to a fascinating European adventure, making it the perfect destination for Rosewood’s affluential explorers seeking authentic and meaningful travel experiences.”

The Munich property will be the second iconic building to be converted into a hotel operated by Rosewood. Earlier this year, the group revealed it had signed a deal with Property developer Qatari Diar to operate a hotel within London’s former US Embassy building in Grosvenor Square.

Rosewood Hotels & Resorts manages 21 luxury properties in 12 countries, with 16 new hotels under development.