Christie brokers sale of Vienna Marriott hotel on behalf of CPI Europe
Christie Group PLC on Tuesday said its advisory division Christie & Co had exclusively brokered the sale of the Vienna Marriott hotel on behalf of CPI Europe AG.
The London-based professional services firm said an international investor consortium has purchased the property from CPI Europe, a Vienna-based commercial real estate company.
Christie did not provide further details of the transaction, but said CPI Europe divested the hotel ‘as part of its strategic repositioning’.
The Vienna Marriott opened in 1985 as the hotel chain’s first franchise in the German-speaking world, Christie noted, and will continue operations via a long-term management deal with Marriott International Inc.
Lukas Hochedlinger, Christie & Co’s managing director for Central & Northern Europe, said the sale of reaffirmed Vienna’s position as ‘a focal point for international investors’.
Christie’s Chief Executive Dan Prickett highlighted the firm’s growing international brokerage business.
‘Across the UK and Europe, Christie & Co remain at the heart of the transactional hotel market, while we continue with our efforts to broaden our sector-specialist coverage to create a multi-sector brand on the continent,’ Prickett commented.
Christie shares were 2.3% lower at 107.50 pence on Tuesday afternoon in London.
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