Starwood Hotels & Resorts Worldwide announced the sale of Hotel Goldener Hirsch, A Luxury Collection Hotel in Salzburg, Austria, to companies of the WILD Group for €20 million (US$22 million).
The 70-room hotel will continue to be operated by Starwood as a Luxury Collection brand under a new long-term management agreement.
So far this year, the company has sold US$520 million of assets, Starwood CEO Thomas Mangas said. “Our team continues to vigorously execute on all corners of our strategy to create value for Starwood’s shareholders, including meaningful progress on our asset disposition target.”
“Hotel Goldener Hirsch is one of the last and most historic European properties that was fully owned by Starwood,” said Michael Wale, president of Starwood for Europe, Africa and the Middle East.
Zug, Switzerland-based WILD Group owns the Hotel Schloss Mönchstein, also in Salzburg. The company is owned by Hans-Peter Wild, the entrepreneur behind WILD Flavors, which produces and supplies natural ingredients and flavorings.
Dating back to 1407, the Hotel Goldener Hirsch building first opened as a hotel in 1564. It was named a UNESCO World Heritage Site in 1997.