Specialist Business Property Advisor Christie & Co has brokered the sale of two Falkensteiner hotels in Austria.
Erste Bank instructed Christie & Co in October 2015 to market for sale two businesses holding assets in the operating company of the hotels, Bad Leonfelden Hotelbetriebs Gesellschaft mbH and Balance Resort GmbH.
After appointing Christie & Co, the renowned Austrian bank has now disposed of its equity interest in Falkensteiner Hotel Balance Resort Stegersbach, in the Austrian state of Burgenland, and Hotel & Spa Bad Leonfelden, in the Austrian state of Upper Austria in order to concentrate exclusively on banking business interests.
Christie & Co brokered the hotels deal which comprising of a total of 258 bedrooms, all with balcony access, to Friedrich Huemer, CEO of Austrian automotive supplier Polytec Group.
Lukas Hochedlinger, Managing Director Germany, Austria & CEE at Christie & Co, says, “We are delighted to have completed the sales process of these hotels after only six months. Falkensteiner Group will continue to operate the hotels, ensuring that hotel guests will not experience any changes.”
Simon Kronberger, Senior Consultant Investment & Letting Austria & CEE at Christie & Co added, “This transaction is proof that during negotiations it is essential to always be mindful of the needs of all the parties involved. I am glad that we were able to achieve a satisfactory result for both the vendor and buyer during this transaction.”
The asking price and the details of the transaction are not disclosed.