Skanska sold the Westin Hotel in Warsaw to Al Sraiya Holding Group for €56m. This is Skanska’s first hotel divestment on the Polish market. During the sales process JLL acted as the exclusive agent for Skanska. Legal advisers for the transaction were Linklaters for the purchaser and Dentons for the seller. The Westin was the second asset Skanska sold in the Polish capital in 2016. The five-star, LEED-certified hotel, managed by Marriott International, offers 361 guestrooms, 118 of which have recently been renovated. The property’s conference center, spa and fitness areas are also scheduled to be refurbished.
“The Westin Hotel divestment is a significant step in Skanska’s operations in Poland. On the one hand, we have just established a new working relationship with a Middle Eastern investor, and on the other, we have widened our transaction scope with this hotel product,” said Adrian Karczewicz, head of divestments for the CEE region at Skanska Commercial Development Europe.
