With its central location and rich history, this site is of major importance to the World Heritage City of Bruges. Tourism is an important engine of the local economy. The conversion of this building into a hotel with conference facilities will finally, after many years, remove an eyesore from the Hoogstraat. The project consists of two parts: the renovation of the three historic buildings on the Hoogstraat and a new development on the Groene Rei.

The modern development replaces a property of little value built in the 20th century. The new addition to the cityscape of Bruges is conceived as a bronze treasure chest set with gems. The architectural form of a box with a chamfered roof can also be found in the Bruges Belfort (which houses a treasury as well as the town accounts).

The new hotel development will comprise 118 hotel rooms and 9 seminar rooms and provide underground parking for 38 cars.