Vienna and Warsaw Stock Exchange-listed developer and investor Warimpex has sold its stakes in a total of eight hotels in the Czech Republic, Poland and Romania to the Thai developer and investor U City for a combined €180 million. Five Polish assets – andel’s by Vienna House Łódź, andel’s by Vienna House Kraków, Vienna House Easy Chopin Kraków, angelo by Vienna House Katowice (50-percent stake) and Vienna House Amber Baltic Międzyzdroje – are the subject of the transaction, which is expected to be finalized by summer this year. Warimpex CEO Franz Jurkowitsch said that the company is taking advantage of the increasing attractiveness of investments in hotel property in Central and Eastern Europe. He added that the transaction will allow Warimpex to focus on new projects that could potentially be developed in cooperation with U City, which has just launched its operations in the region. Poland is to remain one of the key markets for Warimpex. The company is currently developing new schemes in Łódź and Kraków, and is analyzing a number of other development opportunities in the country.
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