Qatari group acquires Skanska's Warsaw Westin for €56m

Skanska Commercial Development Europe announced the sale of the hotel to the Qatari investor on 30 December.

This was Skanska's first hotel divestment in Poland. 'The Westin Hotel divestment is a significant step in Skanska's operations in Poland. On the one hand, we have just established a new working relationship with a Middle Eastern investor, and on the other, we have widened our transaction scope with this hotel product,' said Adrian Karczewicz, head of divestments CEE at Skanska Commercial Development Europe.

The Westin is also Skanska's second divestment in the Polish capital in 2016 following the sale of the Atrium 2 office building to German investment manager Hansainvest for €88 mln. 

The five-star Westin Hotel was built in 2003 and is managed by Marriott International. The premises provides 361 guest rooms over 21,300 m2 in the city centre of Warsaw. It is the first hotel in Poland to be awarded with a LEED for existing buildings: operations and maintenance certificate.

During the sales process JLL acted as the exclusive agent for Skanska. Legal advisers for the transaction were Linklaters for the purchaser and Dentons for the seller.

Established in 1975, Al Sraiya Holding is involved in the construction sector in Qatar, and has diversified into industrial, trading, engineering, hospitality and general services across a group of a individual companies. Al Sraiya owns hotels in Qatar, UK, Germany and US.

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