Article Tools

Starwood Sells Hotel Imperial Vienna for EUR 71 Million

Published: February 26, 2016; 17:00 · (Vindobona)

Starwood Hotels & Resorts Worldwide, Inc. announced that it has closed on the sale of Hotel Imperial Vienna, a Luxury Collection Hotel, to Al Habtoor Investment - the investment arm of UAE conglomerate Al Habtoor Group for 71 million euros. As part of the transaction, all rooms and suites of the iconic hotel will be renovated over the next four years. Hotel Imperial will continue to operate as part of The Luxury Collection brand under a new long-term management agreement.

Starwood Sells Hotel Imperial Vienna for EUR 71 Million / Picture: © Starwood Hotels & Resorts Worldwide, Inc.

“Hotel Imperial is one of Europe’s most extraordinary luxury hotels and a premium addition to our growing global portfolio. We look forward to making further improvements to this legendary property and continuing to provide exceptional luxury hospitality to the next generation of luxury travellers.”

Thomas Mangas, Chief Executive Officer of Starwood Hotels &…

This article includes a total of 516 words.

or Log In