· Press Release

Warimpex successfully closes sale of Palais Hansen stake

© Warimpex

Vienna, 13 March 2024 – After holding an interest in the project company for Palais Hansen located on Vienna’s Ringstrasse boulevard for over ten years, Warimpex Finanz- und Beteiligungs AG announces the sale of its 9.88 per cent stake to Wiener Städtische Versicherung, which is now the 100% owner of the property. The sale was concluded together with the consortium partner UBM Development AG. The parties agreed that the purchase price would not be disclosed.

Our core business involves developing projects, operating them in order to generate stable cash flows, and selling them as soon as the highest added value can be achieved. Palais Hansen has developed very well since 2013, and now the optimal time has come to sell our share,” commented Warimpex CEO Franz Jurkowitsch on the successful transaction.

About Palais Hansen

Located in Vienna’s historic city centre, Palais Hansen was converted to a hotel for the world’s fair in 1873, but was never used as one. In 2007, the consortium partners Porr Solutions (now UBM Development), Warimpex, Wiener Städtische Versicherung, and Wien Holding decided to undertake the careful refurbishment of the listed building. In March 2013, the jewel on the Ringstrasse boulevard was opened as a five-star hotel. Since 1 March 2024, the Asian-based international Minor Hotel Group has been operating the hotel under the name Anantara Palais Hansen Vienna. Up until its acquisition by Minor Hotels, the hotel had been operated by Kempinski Group for more than a decade before the company withdrew from the Viennese market on amicable terms. The hotel has an area of 4,858 square metres and net floor space of 25,655 square metres over three floors. Premium residences were built on the top two floors and sold.

Warimpex Finanz-und Beteiligungs AG at a glance

Warimpex is a real estate development and investment company that was founded in 1959. The firm is headquartered in Vienna and is listed on the stock exchanges in Vienna and Warsaw. Warimpex develops properties and operates them itself until the time at which the highest added value can be realised through sale. The company optimally combines the long-term strategic planning and short decision-making channels of a family-run business with the transparency and financial flexibility of a listed firm. In addition, Warimpex has more than 60 years of business experience in Central and Eastern Europe, where it serves as a true pioneer, for example with the development of the region’s first design hotel. Warimpex has developed properties worth more than one billion euros over the past 40 years and is deeply anchored in Poland, Russia, Hungary, Germany, and Austria to this day.

Contact:

Warimpex Finanz-und Beteiligungs AG
Christoph Salzer, presse@warimpex.com
Daniel Folian, investor.relations@warimpex.com
Tel. +43 1 310 55 00
www.warimpex.com

Ecker & Partner Öffentlichkeitsarbeit und Public Affairs GmbH
Nele Renzenbrink, Barbara Hirsch
presse@warimpex.com 
Tel. +43 660 4895395

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