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Warimpex 2019: Review of a successful year

At the beginning of 2019, Warimpex and Raiffeisen announced the sale of the Hotel Dvořák in Karlovy Vary in the Czech Republic to an international private investor. The 4-star Hotel Dvořák consists of six historic buildings with various elegant Art Nouveau facades. It is located directly on the Tepla River in an exclusive location near Karlovy Vary’s drinking colonnades, where the healing mineral springs rise.The property, with 126 rooms and suites, was opened by Warimpex in 1990 and expanded in the years 2003 and 2004. The closing took place on February 27th.

In May, the Class A office building Mogilska Office, located in the Kraków district of Grzegórzki, was officially opened. The building offers over 12,000 square meters of space on 8 floors and 3 levels of underground parking. Mogilska Office impresses with its unique shape and diversified floor space at individual levels and perfectly fits the surroundings, becoming an integral part and a landmark of this part of the city. With the investor Warimpex, the project has obtained the BREEAM certificate with a “very good” rating, confirming high standards when it comes to environmental protection, comfort of use and efficiency of the building.

Additionally, Warimpex announced the acquisition of a 35 per cent stake in the project company AO AVIELEN A.G. in this month. Following this acquisition, Warimpex holds a total stake of 90 per cent in AVIELEN, which is responsible for the development and operation of AIRPORTCITY St. Petersburg. The remaining 10 per cent is held by UBM Development AG. The contract negotiations and the signing were successfully completed on August 12. In the third quarter, construction started on another office tower (Avior Towers) with roughly 18,000 square metres of office space.

In the second half of 2019, Warimpex AG successfully sold the Vienna House Dream Castle and Vienna House Magic Circus hotels at Disneyland® Paris to a 50/50 joint venture between UK-based private equity fund manager Benson Elliot Capital Management and Schroder Real Estate Hotels (formerly Algonquin).The Hotels were developed and opened by Warimpex and UBM Development AG in 2004 and 2007. Together, the two four-star hotels, located near Disneyland® Paris, have nearly 800 rooms and more than 1,200 square metres of conference space. 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 September 27 2019.

After the acquisition of a hotel property in Darmstadt this year, Warimpex officially re-opened the hotel as “The Hotel Darmstadt – soon to be greet”. The eco-lifestyle conference hotel will be managed by Cycas Hospitality. The first guests were welcomed at the beginning of September, and Warimpex's latest hotel acquisition is now contributing to the revenues of the real estate developer and investor. Through a further refurbishment programme, it will be transformed and relaunched under Accor’s new greet brand in autumn 2020. The conference hotel currently has a net floor space of around 16,800 square metres, 327 guest rooms, a 150 square metre fitness centre, and 26 seminar and meeting rooms as well as office space and 220 parking spaces. The Hotel also operates The Market restaurant, which has already attracted many guests from surrounding offices and workplaces. The 5,000 square metre park in the courtyard is the perfect spot for longer stays and outdoor activities. The 29,000 square metre hotel property has reserves for the development of additional premium office and commercial space, which Warimpex will soon begin to evolve.


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