Al Habtoor Group acquires $78.8m hotel in Vienna
The Hotel Imperial in Vienna adds to Al Habtoor's oversees portfolio, with hotels already in the UK, Lebanon, the US and Hungary
Al Habtoor Group has purchased the $78.8m Hotel Imperial in Vienna from Starwood Hotels & Resorts in the Dubai conglomerate's latest overseas purchase.
The acquisition brings the group's total number of overseas properties to seven.
Khalaf Ahmad Al Habtoor, chairman, Al Habtoor Group, said: "I am delighted to add such a historic hotel to our international hospitality portfolio.
"The hotel is one of the city's most renowned pieces of architecture."
In December last year, Khalaf Al Habtoor said he had set aside $545m (AED2bn) for overseas purchaes in 2016.
Al Habtoor Investment recently bought its first hotel in London, the Hilton London Wembley. It also has two hotels in Lebanon, one in the US and two in Hungary.
In Dubai, the group’s assets include the Habtoor Grand Beach Resort & Spa and the Waldorf Astoria Palm Jumeirah.
It recently opened its first property in the Al Habtoor City complex, The St Regis Dubai. Two further properties on the same site will open in the coming months, the W Dubai and The Westin Dubai.
The Hotel Imperial Vienna consists of 138 rooms, including 59 suites, and has three food and beverage outlets.
The hotel will continue to operate as part of Starwood Hotels & Resorts Worldwide The Luxury Collection brand under a new long-term management agreement.