Christie + Co to sell Falkensteiner hotel portfolio in Austria & Czech Republic
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Specialist property adviser Christie + Co has been exclusively appointed to sell a portfolio of three Falkensteiner Hotels in Austria and the Czech Republic.
Hotels within the portfolio include the Hotel & Spa Carinzia and Club Funimation Katschberg, both located in the Carinthian Alps, and Hotel Grand MedSpa Marienbad situated in the world-famous spa town of Mariánské Lázně.
The 4-Star hotels offer a total of more than 500 bedrooms and can be purchased as a package or individually. A prerequisite of the deal is that Falkensteiner would remain the operator post sale.
Lukas Hochedlinger, Managing Director of Germany, Austria & CEE at Christie + Co is handling the sale. He comments: “This is an extremely attractive investment opportunity; the hotels are modern, premium quality assets with good trading records and long-term leases with Falkensteiner - a first class operator. Given the current strength of the European hotel market, we anticipate a strong level of interest in the portfolio.”
With 31 hotels and residences, Vienna-based Falkensteiner Michaeler Tourism Group (FMTG) is one of the largest hotel operators in Central Europe.
Otmar Michaeler, Chairman of the Board of FMTG comments: “The decision to market this portfolio is part of an ongoing strategy to grow our management business and reduce our asset ownership. Our objective is to accelerate growth through new lease and management contracts, particularly in Germany and Italy.”