OWNERSHIP

Vienna waits for you

HotelHilton_7348_v05oE_small.jpg

One of the largest conference hotels in Europe has changed ownership: Asset manager WEALTHCORE Investment Management, together with Korean Asset Manager Mastern Investment Management, acquired the Hilton Parkview in Vienna.

With a transaction volume of in excess of EUR 370 million, this is one of the largest hotel transactions in Europe. Located in the centre of Vienna, the hotel has been operated by Hilton for more than 40 years. Complete revitalisation and extension of the hotel in accordance with the latest Hilton Brand-Standards for EUR 75 million has already commenced.

The approximately 50 000 square metres property will comprise in excess of 660 rooms and 241 car spaces and is situated in Vienna’s prime location Am Stadtpark. It is one of the top 10 European inner-city conference hotels of this size.

Christoph Wendl, Managing Partner of WEALTHCORE Investment Management, says with the acquisition of this landmark property, they have been able to secure a solid and high quality investment – and this in a highly competitive market.

The property is located directly opposite the Vienna Stadtpark and the shopping center The Mall Wien Mitte. The complex also comprises a shopping arcade, offices and a parking garage. There is direct access to subway lines U3 and U4, numerous suburban trains, as well as the City Airport Train (CAT) to the airport offering excellent accessibility for hotel guests and users.

The historical center of Vienna with a variety of cafés, bars and restaurants, shopping facilities and famous tourist attractions, such as the St Stephens’s Cathedral, is within a five-minute walk.

 

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