The German fund Deka Immobilien GmbH bought Warsaw’s Intercontinental hotel from UBM and Warimpex for €103m. The hotel will continue to operate under its brand, and will be managed by Warimpex and UBM for another 15 years. Warimpex announced plans to sell the hotel last April, saying the deal would help to improve 2012 operations.
The five-star Intercontinental hotel offers 326 rooms and 75 high-end apartments in Warsaw’s city center. TPA Horwath acted as an advisor in the transaction.
This is Warimpex’s third transaction on the Polish market in last two years. The company offloaded a 50 percent stake in Campanile and Premiere Classe projects last year, and sold the Jan Sobieski hotel in Warsaw.
