Austrian listed property group CA Immo has announced the sale of the Meininger Hotel Vienna Downtown Franz in the 2nd district of Vienna to LLB Immo KAG, a subsidiary of Liechtensteinische Landesbank. Financial details were kept confidential.
The hotel is centrally located and offers 131 guest rooms with up to 6 beds each. The hybrid concept of hotel and hostel is particularly popular with backpackers and families.
Advisor Christie & Co brokered the deal.
‘We are pleased to be able to expand our portfolio with this hotel property in a strategically good location. The past few months have shown that young people in particular are more quickly resuming their usual travel behaviour and hostel concepts are very much in demand. Meininger as a successful operator brand rounds off the overall package perfectly. We are convinced that we have made an attractive long-term investment,’ said Louis Obrowsky, managing director of LLB Immo KAG.
‘There is noticeably more movement in the investment market again, and the interest in this hotel property was correspondingly high,’ added Simon Kronberger, director Austria & CEE at Christie & Co.
‘With the sale of Meininger Hotel Downtown Franz, we have further sharpened our focus on large, modern Class A office properties and wish LLB Immo KAG continued success with the property,’ said Christoph Buchgraber of CA Immobilien Anlagen.
