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VIENNA - The iconic Vienna Marriott Hotel has been sold to an international investor consortium, according to a press release from Christie Group plc (LSE:CTG). The property, located on Vienna’s famous Ringstraße, was previously owned by CPI Europe, which divested the asset as part of its strategic repositioning.
The transaction coincides with the hotel’s 40th anniversary, having first opened on July 1, 1985. The 328-room property was the first Marriott hotel in the German-speaking region and will continue to operate under a long-term management agreement with Marriott International (NASDAQ:MAR).
Christie & Co, the agency and advisory business of Christie Group, exclusively brokered the sale of the hotel located at Parkring 12a. The company described the transaction as "among the most significant hotel sales in recent years" in the Austrian market.
"Vienna, in particular, remains a focal point for international investors - as reflected in the strong interest throughout the sales process," said Lukas Hochedlinger, Managing Director Central & Northern Europe at Christie & Co, in the statement.
The sale highlights continued investor interest in premium hotel properties in key European markets despite broader economic uncertainties. The Vienna Marriott has established itself as a prominent fixture in the city’s hospitality landscape over its four decades of operation.
Financial details of the transaction were not disclosed in the announcement.
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