Luxury hotel Andaz Vienna Am Belvedere put up for purchase.
The Hotel Andaz Vienna Am Belvedere, a luxurious hotel complex with around 300 rooms, is set to be sold as part of the insolvency proceedings over the assets of Signa Development Selection AG. The structured marketing process for the hotel, one of the largest assets in the insolvent company's portfolio, will begin this week, with Eastdil Secured handling the sale process.
The hotel complex, built as a joint venture between Signa Development Selection AG and the Hyatt group, has a total area of approximately 25,800 m2. The Hyatt group has agreed to the sale of the property, and it will continue to be operated by them under a lease agreement.
Dr. Andrea Fruhstorfer, the insolvency administrator of Signa Development Selection AG, has made a statement regarding the sale. The open, market-oriented disposal of the Hotel Andaz is aimed at achieving the best possible solution for the creditors. The sale is expected to be completed by summer 2025, subject to market developments, but no further details about the buyer or the sale price have been disclosed.
Eastdil Secured, a leading real estate investment bank, has been mandated as the broker for the sale process of the Hotel Andaz. The joint marketing of the hotel has been agreed upon, involving the joint venture partner.
As of now, no specific information about potential buyers for the Hotel Andaz Vienna Am Belvedere is available. For updates on the sale, one may need to consult real estate market sources, hotel investment reports, or direct announcements from Hyatt or the hotel's ownership.
The Hotel Andaz Vienna Am Belvedere offers a range of amenities and is situated near several popular attractions, making it an attractive asset for potential buyers. The sale process for the hotel complex has been initiated, and interested parties are encouraged to reach out to Eastdil Secured for more information.
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