Austrian group S Immo wants to sell the Novotel hotel in Bucharest “if it gets a good price," reports local Ziarul Financiar.

The company announced its intention only a few months after the Strabag group said it wanted to sell the Marriott hotel. Israeli group Elbit Imaging is also close to selling the Radisson Blu-Park Inn complex.

"If someone paid us the correct price for Novotel, we would sell it. If the correct price had been received so far, we would have already sold it. If it's not the right price, we won’t sell it because the revenues continue to grow,” Friedrich Wachernig, a board member of S Immo AG, said.

Hotels represent 10.5% of the Austrian group’s portfolio as value. However, they generate lower income than the group’s retail projects.

In the last year, S Immo sold a shopping center in Bulgaria to NEPI with over EUR 200 million. It also sold the OMV offices in Vienna.

The group bought the Novotel hotel in Bucharest in 2006.

editor@romania-insider.com