27. März 2012     Print Print 

WertInvest Group takes over Vienna’s InterContinental

The WertInvest Group will be completely taking over Vienna’s InterContinental. This was reported by the company. The closing of the transaction is awaited for the 2nd quarter of 2012 after the approval of the cartel authorities.

A relevant request has been presented to the Federal competition authority. The purchase took place after the acquisition of 99.98% of the Danube Hotel-Betriebsgesellschaft m.b.H. , the sole owner of the InterContinental Vienna. The vendor is a Lebanese investment group. The sale price was undisclosed.

In 1964 the Hotel InterContinental Vienna was the first hotel from an international hotel chain to open in Wien. It is with its 458 room’s one of the largest hotels in the capital. Wertinvest is planning along with Intercontinental to completely modernise the 5star hotel. The planned investment is looked upon as an impulse to improve and make more attractive the entire area including City Park, Hay market, concert house and Beethhovenplatz for the population and tourists. At present talks are being held with the city of Vienna about defining the foundations and general conditions for a development of this unique inner city area.