Christie & Co advises on sale of Vienna Marriot

Christie Group plc (CTG.L) is pleased to report that its agency and advisory business, Christie & Co, has advised and exclusively brokered the sale of the prestigious Vienna Marriott Hotel on behalf of CPI Europe.

The hotel, located on the city's famous Ringstraße, has a new owner: an international investor consortium has acquired the iconic hotel property from its previous owner, CPI Europe, which is divesting the asset at Parkring 12a as part of its strategic repositioning.

Almost exactly 40 years after its opening on 1 July 1985, one of Vienna's most renowned hotels is changing hands. With 328 rooms and suites, the property was the first Marriott hotel in the German-speaking region and has since become a key player in the Viennese hotel market. The hotel will continue to be operated under a long-term management agreement by Marriott International.

Lukas Hochedlinger MRICS, Managing Director Central & Northern Europe at Christie & Co, comments: "This transaction is among the most significant hotel sales in recent years and highlights the attractiveness of the Austrian hotel investment market. Vienna, in particular, remains a focal point for international investors - as reflected in the strong interest throughout the sales process. It was an honour to support CPI Europe in the sale of this trophy asset."

Dan Prickett, Chief Executive of Christie Group plc and Christie & Co Chairman, comments, "The successful sale of this stunning property once again illustrates the capability and market presence of our growing international brokerage teams. 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."