12.18. covers the entire value creation chain of hotel real estate and has all required areas of expertise within the Group: from sourcing and underwriting to planning and conception, project development, financing and transaction services, up to the operational asset management. 12.18. owns, manages and advises various investment vehicles across Europe. Through its management and ownership structure, 12.18. is closely connected to the Lindner Hotel Group, operating 40 hotels in ten countries.