Jones Lang LaSalle Hotels has announced the sale of the Austria Hotels International Portfolio on behalf of subsidiaries of Uniqa Versicherungen, one of Europe's largest insurers. The investment volume was not disclosed.
Jones Lang LaSalle Hotels has announced the sale of the Austria Hotels International Portfolio on behalf of subsidiaries of Uniqa Versicherungen, one of Europe's largest insurers. The investment volume was not disclosed.
The portfolio was acquired by a group of local Austrian private investors.
Jones Lang LaSalle Hotels acted as exclusive adviser to the vendor in the marketing process as well as during the subsequent contract negotiations.
The portfolio comprises six 3- to 5-star hotels in Vienna, an historical 5-star hotel in the nearby resort and spa destination of Baden, two 4-star hotels in Prague and a 3-star hotel in Brno. It includes the Hotel de France at Schottenring and Hotel Kummer at Mariahilferstrasse as well as the Grand Hotel Bohemia in Prague.
Ursula Kriegl, executive vice president Jones Lang LaSalle Hotels, said: 'This transaction demonstrated Austria’s, and in particular Vienna’s, appeal to a broad base of investors from different backgrounds. At the same time, it proved growth in confidence in Eastern European hotel markets.'
