June 02, 2020

Korean brokerages acquire Hilton’s hotel in Vienna

PUBLISHED : August 13, 2019 - 16:55

UPDATED : August 13, 2019 - 16:55

  • 본문폰트 작게
  • 본문폰트 크게
  • 페이스북
  • 트위터
  • sms

Three Korean brokerage firms have bought a hotel in Vienna, Austria, for 370 million euros ($414 million), according to industry sources on Aug. 13.

Seoul-based real estate-focused Mastern Investment Management, acting on behalf of Meritz Securities, Hana Financial Investment and NH Investment and Securities, acquired Hilton Vienna, located in Austria’s capital city, in a joint venture with Wealthcore Investment, an asset management firm in based in Munich and Vienna. The three brokerages funded about $164 million while other local financial institutions financed the remainder. The investment is expected to yield an annual return of 6 percent, the sources said. 

Hilton Vienna

Hilton Hotels and Resorts

“With the acquisition of this landmark property we have been able to secure for us and the Korean investors a solid and high quality investment -- and this in a highly competitive market,” Christoph Wendl, Managing Partner of WealthCore Investment Management, said in a statement on Aug. 12.

“The property offers our Korean investors an attractive opportunity for a long-term investment in the heart of Vienna,” he added.

Hilton Vienna, a property spread over 50,000 square meters with 660 rooms, is a five-star hotel located right across Am Stadtpark, Vienna’s major public park. The hotel was under management by Hilton Hotels and Resorts for 40 years. Last year, the US hotel giant signed a master-lease agreement for 20 years.

By Park Ga-young (

  • 페이스북
  • 트위터
  • sms
Herald Corporation|CEO : Kwon Chung Won
Publisher. Editor : Kwon Chung Won
Chief Privacy Officer & Juvenile Protection Manager : Yang Sung-jin
Title : The Investor|Date of registration : 2015.04.28
Company Registration No. 104-81-06004
Mail-Order Business Registration 2016 - Seoul Yongsan - 00590
Huam-ro 4-gil 10, Yongsan-gu, Seoul, Korea
T : +82-2-727-0114|Business info
Gov’t registration No. Seoul 아04099