The Ritz-Carlton Hotel Company reported today that it would begin its global expansion with the opening of the first hotel in Vienna, Austria's capital city.
An investor represented by Verny Capital owns the Ritz-Carlton Vienna. They also completed the purchase of The Ritz-Carlton, Moscow earlier this year.
The 202-room hotel is situated on Schubertring, the historic and well-known location of numerous monumental structures constructed between 1860 and 1890. Vienna, which is home to the Vienna State Opera and the Museum of Fine Arts, is well-known for its vital position as a major European classical music center.
The Ritz-Carlton, Vienna is housed in two nineteenth-century palaces that are culturally preserved in Austria. The position is one of the most desirable for a luxury hotel in the region. real estate agents in qatar
The Ritz-Carlton Hotel Company, L.L.C. president and chief operating officer, Herve Humler, said, "We are proud to have been chosen by Verny Capital to assume management of this amazing hotel." "We've seen many sights in Vienna over the years and believe this location will provide an exciting new place to discover and enjoy for our sophisticated travelers. The Ringstrasse, as it is called, encircles Vienna's old city. When it opens in the second quarter of 2012, this prime venue, combined with the outstanding service for which The Ritz-Carlton is renowned, will provide unforgettable stays for all of our guests."
"We are thrilled that The Ritz-Carlton Hotel Company will be joining the Austrian market with us," said Verny Capital's Timur Issatayev. "We chose The Ritz-Carlton after a thorough examination of the company's esteemed status in the hospitality industry and our previous relationship with them."
When asked about Ritz-future Carlton's expansion plans in the area, Humler said, "We're still looking at other options and destinations in Europe. We see expansion in Europe, with the right hotels in the right locations, as an important part of our future strategy, given the region's powerful travel and tourism industry."
According to STR Global, hotel occupancy in Vienna is expected to increase in 2010.
(LONDON, United Kingdom) — After a difficult year for the Vienna hotel industry, STR Global reported today that it is time to look forward to 2010. In 2010, STR Global, in collaboration with the Oesterreichische Hoteliervereinigung, forecasts a 6% to 9% increase in hotel occupancy in the region. Average room rates will continue to be under pressure, with a drop of between 4% and 7% forecast.
The revenue per available room (RevPAR) growth forecast for 2010 is between 0% and 2%, based on 2009's poor results. In the year to October 2009, Viennese hoteliers registered declines in all three performance indicators. When compared to the same time last year, RevPAR dropped by €14 to €63. (as seen in the table below).
In recent months, occupancy has improved, with year-over-year decreases in the single digits, as opposed to double-digit declines in the first five months of this year. The city's fortunes were improved by a series of international conferences; September was a particularly good conference month. However, the pattern of low occupancy and ADR persisted in October and the first weeks of November.
Vienna performs moderately in contrast to other European cities on a European scale. In terms of RevPAR declines, Vienna is ranked 27th out of 40 cities in the October STR Global European Hotel Review (in local currency). Eastern and Southern Europe, as well as the Benelux countries, have destinations that are worse off than Vienna, such as Budapest (-19%), Milan (-21%), Barcelona (-22%), and Amsterdam (-22%). (-22 percent).