London, 1st August 2002 On behalf of All Nippon Airways Co, Ltd (ANA) and JJW Hotels & Resorts, Jones Lang LaSalle Hotels is pleased to announce the sale of the five star deluxe ANA Grand Hotel in Vienna to JJW Hotels & Resorts. The sale is the most significant single asset hotel transaction to have taken place in Europe since the beginning of the year.
The property, which will be known as Grand Hotel Wien, is recognised as being amongst the most luxurious hotels not only in Vienna, but the whole of Europe. It was opened in 1870 as the first Grand Hotel in Vienna and re-opened in 1994 following a complete redevelopment, retaining only its historic façade, and it now combines classic Viennese style with state-of-the art technology. The five star, 205-room hotel enjoys a prime location in the centre of Vienna on Kärntner Ring, adjacent to the Ringstrassen Galerien, and a short walk from the Vienna State Opera. Other attractions within the hotel include top class restaurants offering French, Japanese and Viennese cuisine, two bars, five meeting rooms and one of Viennas largest hotel ballrooms.
Mr Shaibi, Director and member of the executive board for JJWorldwide and Mr Nakamachi, Managing Director for ANA finalised the deal yesterday. The Chairman and owner of JJWorldwide Sheik Mohamed Bin Issa Al-Jaber comments, We are thrilled to have acquired this substantial and unique property in the heart of Europe.
JJWorldwide and ANA Hotels have signed an agreement for the continuation of sales and marketing services for the Grand Hotel Wien through ANA Hotels Co., Ltd (ANAH). JJWorldwide has also entered into a licence agreement with ANAH to continue to use the highly successful UNKAI brand name for the Japanese restaurant, which is one of the most celebrated restaurants of its kind in Vienna.
Commenting on the deal, Nick Marsh, Executive Vice President of Jones Lang LaSalle Hotels said, The ANA Grand Hotel attracted strong interest from investors and operators, recognising both a re-branding opportunity and the chance to buy a prime piece of Viennese real estate. He continues, JJWorldwide have secured a fantastic foothold in a market with strong prospects while ANAH will maintain an ongoing relationship with the hotel through a marketing alliance.
Facts and Figures
The new owner JJW Worldwide is an international hotel company, which was created in 1990. It owns and manages more than 40 hotel properties and golf courses around the world, mainly in France, Portugal and the United Kingdom. It is also a strategic partner in a number of hotel properties in the Middle East and Europe. The Grand Hotel will be their second operation in Vienna.
Sheik Al-Jaber also owns Jadawel, one of the largest real estate companies in Saudi Arabia and the AJWA Group, a large food company in the Middle East.
Jones Lang LaSalle Hotels, the worlds leading hotel investment services group, provides clients with value-added investment opportunities and advice. Its recent two-year success story includes the sale of 13,994 hotel rooms to the value of US$1.4 billion in 48 cities and advisory expertise for 173,021 rooms to the value of US$32.6 billion across 343 cities. Jones Lang LaSalle Hotels services include transactions, mergers and acquisitions, financial advice and capital raising, valuation and appraisal, asset management, strategic planning, operator assessment and selection and industry research. Jones Lang LaSalle (NYSE: JLL) is the worlds leading real estate services and investment management firm, operating across more than 100 key markets on five continents. www.joneslanglasallehotels.com