Jones Lang LaSalle's Hotels & Hospitality Group is announced the sale of the 206-room Luxury Collection Hotel Bristol in Warsaw to a consortium of international private investors who have existing luxury hotel interests.
Commenting on the sale Christoph Härle CEO Continental Europe at Jones Lang LaSalle Hotels & Hospitality Group said: “This deal underlines the strong investor appetite we are currently seeing for hotels in Central and Eastern Europe. We are confident that the transaction markets will continue to develop positively in the coming years in Poland, one of the most vibrant economies in Europe.”
The Hotel Bristol is an irreplaceable trophy asset prominently located adjacent to Warsaw’s Presidential Palace and a few minutes away from the legendary Old Town and the main tourist and business districts of Warsaw. The elegant property, operated by Starwood Hotels and Resorts underwent a €13 million refurbishment and was rebranded to Luxury Collection in 2013.
Jones Lang LaSalle (NYSE:JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual revenue of $3.9 billion, Jones Lang LaSalle operates in 70 countries from more than 1,000 locations worldwide. On behalf of its clients, the firm provides management and real estate outsourcing services to a property portfolio of 2.6 billion square feet and completed $63 billion in sales, acquisitions and finance transactions in 2012. Its investment management business, LaSalle Investment Management, has $46.3 billion of real estate assets under management. For further information, visit www.jll.com.
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