Starwood Sells Hotel Imperial, Vienna to Investor Group in UAE
Starwood Hotels and Resorts announced that it has sold the Hotel Imperial, Vienna to an investment group in the United Arab Emirates.
The buyer, Al Habtoor Investment, is the investment arm of Al Habtoor Group, a company active in hospitality, real estate, education, and publishing. The Imperial will continue to remain in Starwood’s Luxury Collection group under a new long-term contract with Starwood.
The buyer paid $78.8 million and plans a major renovation of all rooms, suites, and public spaces at the hotel.
“Hotel Imperial is one of Europe’s most extraordinary luxury hotels and a premium addition to our growing global portfolio,” said Khalaf Ahmad Al Habtoor, the group’s CEO. “We look forward to making further improvements to this legendary property and continuing to provide exceptional luxury hospitality to the next generation of luxury travelers.”
(Photo: Accura Media Group)