Wild Group acquires Goldener Hirsch
Starwood Hotels & Resorts Worldwide has announced it has closed on the sale of Hotel Goldener Hirsch, A Luxury Collection Hotel in Salzburg, Austria, to companies of the Wild Group for €20M. Starwood will continue to operate the hotel under the Luxury Collection brand flag under a new long-term management agreement.
Thomas Mangas, Chief Executive Officer of Starwood Hotels & Resorts Worldwide says: “Our team continues to vigorously execute on all corners of our strategy to create value for Starwood’s shareholders, including meaningful progress on our asset disposition target. With this transaction, we have disposed of over $520 million of assets already in 2016, including five hotels transferred to Interval Leisure Group in connection with ILG’s acquisition of Vistana.”
Simon Turner, President of Global Development for Starwood comments: “The sale of Hotel Goldener Hirsch underscores our ongoing commitment to dispose of our owned assets to the right long-term partners to create both immediate and long-term shareholder value. We continue to experience strong interest from global investors looking to add unique and quality properties to their portfolios.”
Wild Group also owns Hotel Schloss Mönchstein, located just 2km from Hotel Goldener Hirsch. Hans-Peter Wild, owner and chairman of the Wild Group, adds: “We are delighted to add Hotel Goldener Hirsch to our portfolio and look forward to partnering with Starwood on the continued success of this celebrated hotel, a perennial favourite among visitors to Salzburg.”
Dating back to 1407, the historical Hotel Goldener Hirsch building first opened as a hotel in 1564. It then became the Salzburg Festival’s premier residence when it was acquired by Countess Harriet Walderdorff in 1939. Named a UNESCO World Heritage Site in 1997, the hotel features 70 guestrooms, including five suites, the Restaurant Goldener Hirsch, Restaurant Herzl and Bar Goldener Hirsch. The hotel is located on the prestigious Getreidegasse road in Salzburg’s Old Town, in close proximity to Mozart’s birthplace, Festival Hall and The Hohensalzburg Fortress.
Michael Wale, President of Starwood for Europe, Africa and the Middle East concludes: “Hotel Goldener Hirsch is one of the last and most historic European properties that was fully owned by Starwood. In Wild Group we believe we have found the right partner to continue the legacy of this landmark hotel.”
