Signa Holding, one of the leading real estate companies in Austria, has signed a management agreement with Hyatt Hotels & Resorts for a planned five-star luxury hotel in Vienna's city center (1st district).
Jones Lang LaSalle Hotels advised Signa Holding in operator selection and the management contract negotiations.
"Park Hyatt is one of the leading hotel brands in the luxury segment and will be a new player on the Vienna hotel market," says Ursula Kriegl, Executive Vice President at Jones Lang LaSalle Hotels.
"We received strong global interest from hotel operators due to Vienna being a strategic market, the prime city center location, the historic building and the layout of the property, which lends itself for hotel use. International luxury hotel operators saw this as an excellent opportunity to realize a hotel setting new luxury standards."
Source: Jones Lang LaSalle