“The accommodation Andaz Vienna on the Belvedere, by Hyatt, which is located in Vienna, 500 m from the Army History Museum, has accommodation with a fitness center, a private car park, a terrace and a restaurant. Advantageously located in district 10. Favorites, offers this hotel a bar as well as a sauna and a spa-center. Airport transfers, room service and free WiFi throughout the accommodation, ”says Booking.com. “In the accommodation Andaz Vienna on the Belvedere, by Hyatt, all rooms are provided with air conditioning, a seating area, a flat screen TV with satellite channels, a safe and your own bathroom with a shower free care products and a hair dryer. Here all rooms are provided with a coffee machine-selected rooms are equipped with a kitchenette with a microwave and a stove. Andaz Vienna on the Belvedere, by Hyatt, all rooms are equipped with bed linen and towels. ”
The Viennese luxury hotel Andaz Vienna Am Belvedere Now comes under the hammer. “As part of the bankruptcy proceedings, the sales process for the Hotel Andaz Vienna on the Belvedere was initiated.
“It is a hotel complex with a total area of around 25,800 square meters. The hotel comprises around 300 rooms and is rented to the Hyatt group that also operates. The property was built as part of a joint venture between the Signa Development Selection AG and the Hyatt Group”.
The property with the Wiener address Arsenalstraße 10 belongs to the Hotel am Belvedere GmbH Co OG. It is burdened with a lien of 68.3 million euros from Deutsche Pfandbriefbank AG. She has a bar on the roof terrace and two restaurants in the hotel. According to insiders, however, the construction costs should be located above the amount of the lien.
The background
A prerequisite for the implementation of a structured sales process was the approval of the joint venture partner. This is now available so that the property can be sold together. This enables an open marketing process that appeals to a broad group of interested parties.
“The Hotel Andaz is one of the central assets in the insolvency proceedings of the Signa Development Selection. The joint marketing now agreed with the joint venture partner enables an open, market-friendly recycling of the object. The aim is to achieve a best possible solution in the interests of the believers, taking into account the existing corporate and legal framework,” says Andrea Fruhstorfer, insolvency administrator of Signa Development Selection AG.
“With the implementation of the sales process, the investment bank was Eastdil Secured mandated as a broker. The marketing process starts during this week. A degree is aimed – subject to market -related developments – until the summer of 2025, “it says.