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Review 2019: A record-breaking year

At the beginning of 2019, Warimpex and Raiffeisen announced the sale of the Hotel Dvořák in Karlovy Vary. The closing took place on February 27. 

In May,the A-class office building Mogilska Office, located in the Kraków district of Grzegórzki, was officially opened. Shortly after, Warimpex announced the acquisition of an additional 35% stake in the project company AO AVIELEN A.G., which is behind the development and operation of AIRPORTCITY St. Petersburg. The contract negotiations and the signing were successfully completed in August and construction of the new office tower (Avior Towers) has already started. 

In the second half of 2019, Warimpex AG successfully sold the Vienna House Dream Castle and Vienna House Magic Circus Hotels at Disneyland® Paris. Warimpex and UBM Development AG developed the hotels as part of a 50/50 joint venture and sold them at a price of around EUR 118 million. The transaction was completed on 27 September 2019. 

Furthermore, after the acquisition of a hotel property in Darmstadt in April 2019, Warimpex officially re-opened it in September as “The Hotel Darmstadt – soon to be greet”. Through a further refurbishment programme, the eco-lifestyle hotel will be transformed and relaunched under Accor’s new greet brand in autumn 2020. The hotel property has reserves for the development of additional premium office and commercial space, e.g. for modern co-working spaces, which Warimpex will soon begin to develop. 

2019 was also wildly successful for the Company in financial terms. With the Q3 results, we were able to announce the strongest quarterly results in the company’s history. Warimpex generated a profit of EUR 57.5 million. We expect to announce great annual results in the near future, which will mark 2019 as a record-breaking year for Warimpex.

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