Starwood Hotels & Resorts Worldwide, Inc. announced that it has closed on the sale of Hotel Imperial, a Luxury Collection Hotel, Vienna to Al Habtoor Investment – the investment arm of UAE conglomerate Al Habtoor Group for $78.8 million USD.
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.
Hotel Imperial is the fifth Starwood property in the Group’s portfolio of 14 world-class hotels, joining the newly opened The St Regis Dubai, as well as the upcoming W Dubai – Al Habtoor City, The Westin Dubai, Al Habtoor City and The St. Regis Dubai, Al Habtoor Polo Resort and Club.
The residence of choice for royalty and high society visiting Vienna for more than 140 years, Hotel Imperialfeatures 138 guestrooms including 59 suites. In 2014, the hotel completed a $14 million restoration of its ground floor, which includes the landmark lobby, a signature restaurant, destination bar, Cafe Imperial and Imperial Torte shop, and private event venues spanning more than 4,000 square feet.
The post Starwood sells Imperial Hotel Vienna to Al Habtoor appeared first on CPP-LUXURY.
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