Starwood sells Hotel Goldener Hirsch to Wild Group for €20 million

Austria: Starwood Hotels & Resorts Worldwide has completed the sale of Hotel Goldener Hirsch in Salzburg, to the Wild Group.

Dating back to 1407, the 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 elegant hotel features 70 guestrooms, including five suites, the Restaurant Goldener Hirsch, Restaurant Herzl and Bar Goldener Hirsch. The hotel is located on Getreidegasse road in Salzburg’s Old Town, close to boutiques, Mozart’s birthplace, Festival Hall and The Hohensalzburg Fortress.

Starwood will continue to operate the hotel under its Luxury Collection brand flag, through a new long-term management agreement.

Thomas Mangas, CEO of Starwood Hotels & Resorts Worldwide, said: “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 said, “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 two kilometres from Hotel Goldener Hirsch.

Dr. Hans-Peter Wild, owner and chairman of the Wild Group said: “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.”

www.starwoodhotels.com

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