“Where flour used to be spread, ovens heated and loaves of bread passed over the counter, today there is space and a setting for good times. A bakery. That was our hotel once. Some things have remained to this day,” says the website of the Hotel Stern in Gmünd. “Like the smell of fresh bread or the cozy warmth in our restaurant. But a lot has also changed. Because today we offer our business and holiday guests 39 rooms. You with us. That means hospitality, enjoyment and good times.”
The company
We’re talking about the W4 Hotel&More GmbH (FN 620794 h) based in Gmünd. There was a lot of noise about her fortune AQUA Bankruptcy proceedings were opened at the Krems regional court. 35 employees are affected by the bankruptcy.
The company was founded in February 2024 and operates the Hotel & Restaurant Stern in Gmündthe City hotel Raabs an der Thaya and that City hotel Waidhofen an der Thaya.
Die W4 Hotel&More GmbH belongs to half of each External Hotel Management Zrt. based in Hungary and the KS PRO Immo Invest GmbH.
The debts
“According to available documents, the debtor company is no longer able to pay the salaries for the month of November,” said AKV. “There is currently no information available on the causes of insolvency, the number of creditors affected and the amount of liabilities.”
According to the 2024 balance sheet, the accumulated loss is 156,500 euros and the liabilities are 284,500 euros.
This is what the property owners say
“The Schuster family and team successfully managed these hotels until October 2024. After a large hotel group “Hotel&more Group from Hungary” became interested in the houses as tenants, the owners decided to lease the hotels to them,” explains Klausia. Unfortunately, it quickly turned out that leasing the houses was a bad decision because the management style and the massive bad business decisions were not forward-looking,” explains the Schuster family in a written statement. “Klaudia & Jürgen Schuster are happy that it has now come to an end, of course they tried to terminate the lease agreement with the tenant Hotel&more early, but this failed peacefully.”
And it goes on to say: “In the next few days, operations will be continued by the insolvency administrator until the takeover of AUSTRIA BEST HOTELS is completed. The continuity and continuation of hotel operations as well as securing jobs are now the top priority.”