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EMEA, 10 December 2013 – Jones Lang LaSalle Hotels & Hospitality Group is pleased to announce the sale of the 206-room Luxury Collection Hotel Bristol in Warsaw to a consortium of international private investors who have existing luxury hotel interests.
Commenting on the sale Christoph Härle CEO Continental Europe at Jones Lang LaSalle Hotels & Hospitality Group said: “This deal underlines the strong investor appetite we are currently seeing for hotels in Central and Eastern Europe. We are confident that the transaction markets will continue to develop positively in the coming years in Poland, one of the most vibrant economies in Europe.”
The Hotel Bristol is an irreplaceable trophy asset prominently located adjacent to Warsaw’s Presidential Palace and a few minutes away from the legendary Old Town and the main tourist and business districts of Warsaw. The elegant property, operated by Starwood Hotels and Resorts underwent a €13 million refurbishment and was rebranded to Luxury Collection in 2013.
About Jones Lang LaSalleJones Lang LaSalle (NYSE:JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual revenue of $3.9 billion, Jones Lang LaSalle operates in 70 countries from more than 1,000 locations worldwide. On behalf of its clients, the firm provides management and real estate outsourcing services to a property portfolio of 242 million square meters and completed $63 billion in sales, acquisitions and finance transactions in 2012. Its investment management business, LaSalle Investment Management, has $46.7 billion of real estate assets under management.In Russia and CIS Jones Lang LaSalle have offices in Moscow, St. Petersburg and Kiev. Jones Lang LaSalle, Russia was voted Consultant of the Year in 2004, 2006, 2007, 2008, 2009, 2010, 2011, 2012 and 2013 at the Commercial Real Estate Awards, Moscow and Consultant of the Year at the Commercial Real Estate Awards 2009, St. Petersburg.For further information, please visit www.jll.ru
About Hotels & Hospitality GroupJones Lang LaSalle’s Hotels & Hospitality Group serves as the hospitality industry’s global leader in real estate services for luxury, upscale, select service and budget hotels; timeshare and fractional ownership properties; convention centres; mixed-use developments and other hospitality properties. The firm’s more than 265 dedicated hotel and hospitality experts partner with investors and owner/operators around the globe to support and shape investment strategies that deliver maximum value throughout the entire lifecycle of an asset. In the last five years, the team completed more transactions than any other hotels and hospitality real estate advisor in the world totalling nearly US$25 billion, while also completing approximately 4,000 advisory, valuation and asset management assignments. The group’s hotels and hospitality specialists provide independent and expert advice to clients, backed by industry-leading research.For more news, videos and research from Jones Lang LaSalle’s Hotels & Hospitality Group, please visit: www.jll.com/hospitality or download the Hotels & Hospitality Group’s app from the App Store
Natalia Kopeychenko, Head of PR
+7 495 737 8000