Alternative Investment Fund Manager VIYM has sold the Radisson Blu Park Palace in Vienna to Luxembourg hotel fund Echo Fund for €66 million (€283,000 per room). The 233-room hotel, located directly opposite the Schönbrunn Palace, is leased to hotel operator Austria Trend. HVS Hodges Ward Elliott acted for the seller.
Austrian real estate company Warimpex Finanz- und Beteiligungs AG, together with joint-venture partner UBM Development AG, intend to sell the 397-room Vienna House Dream Castle and the 396-room Vienna House Magic Circus, both located near Disneyland Paris, to an unidentified international investor. The Vienna House Magic Circus, developed by the sellers, opened in 2003, and is located near the Vienna House Dream Castle, which was acquired in 2007 and renovated in 2008.
Vienna’s largest hotel, the 539-room Ananas Hotel, has been acquired by WertInvest from Amisola Immobilien. The Ananas Hotel, located near Vienna Naschmarkt, will join WertInvest’s 3-hotel portfolio in Vienna comprising the Hotel InterContinental am Stadtpark, the Kummer Hotel, currently closed and to reopen as the Hotel Motto, and the 25hours hotel.
Paddy McKillen Jnr’s investment vehicle Oakmount has acquired the 65-room Glasson Country House Hotel & Golf Club in Athlone, central Ireland, for a reported €9 million (€138,000 per room) from the Reid Family. The Hotel will be operated by McKillen’s hospitality group Press Up Entertainment.
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