Khalaf Ahmad Al Habtoor has allocated Dh2 billion for overseas investments in 2016.
Dubai - Starwood Hotels & Resorts Worldwide sold the 138-room property, which will continue to operate under its Luxury Collection brand, the company said in a statement on Tuesday. All rooms will be renovated as part of the deal.
Published: Wed 17 Feb 2016, 4:58 PM
Al Habtoor Group has purchased Vienna's Hotel Imperial, once Adolf Hitler's favourite and now used by stars, including Madonna and Mick Jagger, for $78.8 million.
Starwood Hotels & Resorts Worldwide sold the 138-room property, which will continue to operate under its Luxury Collection brand, the company said in a statement on Tuesday. All rooms will be renovated as part of the deal.
The acquisition brings the total number of overseas hotels within Al Habtoor Group's investment arm to seven.
Khalaf Ahmad Al Habtoor, chairman of Al Habtoor Group , said: "I am delighted to add such a historic hotel to our international hospitality portfolio. The hotel is one of the city's most renowned pieces of architecture."
Hotel Imperial has been in business since 1873. Hitler favoured the hotel and had a permanent suite there, according to the Simon Wiesenthal Centre.
Al Habtoor said: "Hotel Imperial is one of Europe's most extraordinary luxury hotels and a premium addition to our growing global portfolio. We look forward to making further improvements to this legendary property."
"Hotel Imperial is one of Europe's most spectacular luxury properties and a perennial favourite among Starwood's loyal travellers," said Thomas Mangas, CEO of Starwood Hotels & Resorts Worldwide.
Hotel Imperial is the fifth Starwood property in Al Habtoor Group's portfolio of 14 hotels, joining the newly opened The St Regis Dubai, as well as the upcoming W Dubai - Al Habtoor City, The Westin Dubai, Al Habtoor City and The St Regis Dubai, Al Habtoor Polo Resort and Club.
Michael Wale, president of Starwood for Europe, Africa and Middle East, said: "We are delighted to extend our relationship with the Al Habtoor Group, with whom we are launching Starwood's largest hospitality project in the Middle East this year."
The seven-storey Hotel Imperial Vienna consists of 138 rooms, including 59 suites. It has three food and beverage outlets and five meeting rooms and conference salons.
Al Habtoor Investment - the investment arm of Al Habtoor Group - recently acquired its first hotel in London with the purchase of the Hilton London Wembley.
In December 2015, Al Habtoor said he had allocated Dh2 billion for overseas investments in 2016.
- With inputs from Bloomberg
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