Skanska sells hotel in Warsaw, Poland, for EUR 56M, about SEK 530M
Skanska has sold Westin Warsaw, a five star hotel in Warsaw, Poland, to Al Sraiya Holding Group. The value of the transaction is EUR 56M, about SEK 530M, and the sale will be recorded by Skanska Commercial Development Europe in the fourth quarter of 2016. The transaction is expected to be closed in the first quarter of 2017.
Hotel Westin Warsaw is located in the prime city center and has about 21,300 square meters of usable area. It offers 361 guestrooms including 15 suites and a royal suite. It is the first hotel in Poland to comply with the high requirements for environmental certification for existing buildings. It has been awarded a LEED for Existing Buildings: Operations and Maintenance certificate with Silver grade.
Skanska Commercial Development Europe initiates and develops office property projects. The company’s operations are concentrated in the metropolitan areas of the Czech Republic, Hungary, Romania and Poland and are conducted in four local units: Skanska Property Czech Republic, Skanska Property Hungary, Skanska Romania and Skanska Property Poland.