Jones Lang LaSalle Hotels completes sale of Austria hotel portfolio (AT)

Jones Lang LaSalle Hotels announces the successful sale of the Austria Hotels International Portfolio on behalf of Austria Hotel Liegenschaftsbesitz AG and AUSTRIA Hotels Liegenschaftsbesitz CZ s.r.o., wholly owned subsidiaries of UNIQA Versicherungen AG, one of Europe's largest insurers.

The portfolio was acquired by Günther Kerbler, Johann Kowar and Oliver W. Braun a group of local Austrian private investors. Jones Lang LaSalle Hotels acted as the exclusive advisor to UNQIA Versicherungen AG in the marketing process as well as during the subsequent contract negotiations.

The portfolio (1,392 guest rooms) comprises a highly attractive, well-established collection of six 3- to 5-star hotels in Vienna, a historical 5-star in the nearby resort and spa destination of Baden, two 4-star hotels in Prague and a 3-star hotel in Brno. The well renowned hotel portfolio 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."

Source: Jones Lang LaSalle

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