Signa sells Park Hyatt Vienna – Diepresse.com
The sales process for the Hyatt Vienna Park has started: by the middle of the year, the luxury hotel should find a new owner for around 350 million euros.
The bankruptcy manager of Signa Prime Selection, Norbert Abel, launched the sales process for the Hotel Park Hyatt in downtown Vienna. As Abel already announced, the hotel in the « Golden Quarter » is to be sold by the middle of the year, whereby the bankruptcy manager EHL Consulting, BNP Paribas and Eastdil Secured has entrusted with the recycling process, said Ehl Consulting in a broadcast on Wednesday.
The value of the property was estimated a long time ago at around EUR 350 million. The building should be particularly interesting for non -institutional investors who see the property as a long -term investment. While EHL is more likely to probe the German -speaking area for corresponding investors, Eastdil and BNP Paribas are said to be looking for prospective interest internation. Eastdil, above all, are said to have good contacts in the Middle East.
Hotel and luxury brands
Signa renovated the historic bankruptcy at the courtyard from 2009 to 2014. Since then, the building has been operated as a hotel with 146 rooms under the Park Hyatt brand. In addition, there is a retail component with around 3,100 square meters of retail space. The Viennese branches of six international luxury brands, including Prada and Brunello Cucinelli, are represented here. Retail currently supplies around 55 percent of the yields. In the medium term, the hotel and retail should contribute half to yield. (APA)
