Vienna-listed property company UBM Realitätenentwicklung has acquired the Hotel Symphony in Amsterdam from Philips' pension fund for an undisclosed price. Symphony Hotel will be operated by Intercontinental Hotel Group as a business hotel under the Crowne Plaza brand.
Vienna-listed property company UBM Realitätenentwicklung has acquired the Hotel Symphony in Amsterdam from Philips' pension fund for an undisclosed price. Symphony Hotel will be operated by Intercontinental Hotel Group as a business hotel under the Crowne Plaza brand.
The 11-floor hotel comprises 205 rooms, conference space, a fitness centre, executive lounge and a restaurant over 12,500 m2. The hotel is part of the mixed-use Symphony complex located in the Zuidas business and residential district. The complex comprises office space, luxury apartments, the hotel and an underground car park.
Crowne Plaza Hotel Zuidas will welcome its first guests in autumn 2011.
CB Richard Ellis and Houthoff Buruma acted for the vendor, while UBM was advised by Savills Investments Amsterdam and Loyens & Loeff.
