DLA Piper advises Spanish hotel group Ibersol on entry into Austria and takeover of a Vienna hotel

DLA Piper has advised Ibersol Group, a leading Spanish hotel group, on its successful entry into the Austrian market and the negotiation of a hotel lease agreement for a four-star hotel in Vienna. The 'Quality Trend Hotel Zoo' hotel will be managed under the Ibercity brand. The firm also assisted in the establishment of IBERCITY WIEN HOTEL COMPANY GmbH to manage Ibersol's operations in Austria.

The hotel, located on Vienna's Schönbrunner Schlossstraße, is spread over 6,500 square meters and offers 118 rooms. DLA Piper assisted the Ibersol Group with regulatory issues related to hotel operations, the establishment of an Austrian company, and obtaining necessary business licenses. The Ibersol Group currently operates seven holiday hotels and a variety of aparthotels in Spain.

A team from DLA Piper's Real Estate practice worked on the matter led by partner and head of Real Estate in Austria, Birgit Kraml. She was supported by associates Magdalena Krasser and Özlem Ciftci.

Birgit Kraml, partner, commented: "This was a complex transaction involving a range of warranty and fee issues on a tight schedule and the involvement of different parties, languages, and legal systems. We are proud to have supported Ibersol's entry into the Austrian market and the completion of this significant transaction is testament to the capabilities of our Real Estate practice in Austria."