In total, the year of 2020 brought the final result of EUR 280M in terms of hotel investment transactions in Austria. It is worth noting that deals in Vienna locations came to a halt, meanwhile, holiday destinations and smaller cities, that were less affected by the economic crisis, have been more profitable.
In H1 2020, Austria registered two significant city hotel transactions. The 117-room Pentahotel Vienna was sold to Aroundtown, the Luxembourg-German company, in February. A little later, in March, the H+ Hotel in the main train station in Salzburg also changed owners. The hotel was purchased by the subsidiary of Deka, WestInvest from the real estate developer Rhomberg Bau.