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Sign in Sign up for a FREE subscriptionKorean consortium to acquire Austria’s largest hotel
A South Korean brokerage consortium led by Meritz Securities Co. has acquired Austria’s largest hotel for $375 million.
The seller of 600-room Hilton Vienna is reported as an unnamed Austrian real estate investment company.
The consortium consists of three firms: Meritz Securities Co., Hana Financial Investment Co. Ltd. and NH Investment & Securities Co., which will invest $170 million in the five-star hotel.
Hilton has been operating the hotel for nearly 40 years and last year renewed a master-lease agreement for 20 years with a 10-year tenant renewal option.
