Hotel Andaz Vienna Am Belvedere is currently being offered for purchase.
The sale of the Andaz Vienna Am Belvedere hotel complex, located near the Belvedere palace in Vienna, Austria, has been initiated as part of the insolvency proceedings over the assets of Signa Development Selection AG. The sales process, managed by Mega-Immo of the Signa Development Selection, is set to be completed by summer 2025, subject to market developments.
The hotel, leased to and operated by the Hyatt group, boasts around 300 rooms and spans a total area of approximately 25,800 m2. The property is one of the largest assets in the portfolio of the insolvent company.
A joint marketing agreement has been reached, involving both Signa Development Selection AG and the joint venture partner. The investment bank Eastdil Secured has been mandated as the broker to carry out the sales process. The Hyatt group has agreed to the sale of the property.
The structured marketing process for the hotel complex will start this week. Dr. Andrea Fruhstorfer, insolvency administrator of Signa Development Selection AG, aims to achieve the best possible solution in the interest of the creditors.
Despite extensive online searches, no concrete details about the sale, transaction, or joint disposal by Signa and Hyatt of the Andaz Vienna Am Belvedere hotel have been found. For the latest updates on this sale, it is recommended to consult official press releases from Signa Development Selection, Hyatt, or reputable real estate and hospitality industry news sources.
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