Mon, 22 August 2016

Starwood Sells Luxury Collection Hotel in Salzburg, Austria

Starwood Hotels & Resorts has sold the Hotel Goldener Hirsch, a Luxury Collection Hotel in Salzburg, Austria to companies of the WILD Group for 20 million (approximately US$22 million).

Dating back to 1407, the historical Hotel Goldener Hirsch building first opened as a hotel in 1564. It then became the Salzburg Festivals premier residence when it was acquired by Countess Harriet Walderdorff in 1939.

Named an UNESCO World Heritage Site in 1997, the elegant hotel features 70 guestrooms, including five suites, the Restaurant Goldener Hirsch, Restaurant Herzl and Bar Goldener Hirsch.

The hotel is located on the prestigious Getreidegasse road in Salzburgs Old Town, in close proximity to boutiques, Mozarts birthplace, Festival Hall and The Hohensalzburg Fortress.

Starwood will continue to operate the hotel under a new long-term management agreement.

Thomas Mangas, Chief Executive Officer of Starwood Hotels & Resorts Worldwide, Inc. said, Our team continues to vigorously execute on all corners of our strategy to create value for Starwoods shareholders, including meaningful progress on our asset disposition target. With this transaction, we have disposed of over $520 million of assets already in 2016, including five hotels transferred to Interval Leisure Group in connection with ILG's acquisition of Vistana.

WILD Group also owns Hotel Schloss Mnchstein, located just 2 km from Hotel Goldener Hirsch.

Dr. Hans-Peter WILD, owner and chairman of the WILD Group said, We are delighted to add Hotel Goldener Hirsch to our portfolio and look forward to partnering with Starwood on the continued success of this celebrated hotel, a perennial favorite among visitors to Salzburg. 

See other recent news regarding: Starwood, Luxury Collection, Salzburg, Austria

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