German REIT Deka Immobilien, on behalf of its open-ended WestInvest InterSelect fund, has acquired the five-star, 303-room Andaz Vienna Am Belvedere in Austria for approximately €92 million (about €303,600 per room), from a joint venture between affiliates of Hyatt Hotels & Resorts and Austrian real estate developer Signa Development Selection AG. The property is situated near Vienna Central Station in the city’s Belvedere Quarter urban development area, a 10-minute walk south of Belvedere Palace. Designed by Renzo Piano and opened in 2019, the hotel includes two restaurants, two bars and six meeting rooms. The property is leased to Munich Hotel Partners (MHP) on a long-term basis. From April 2026, it will be rebranded as the Hyatt Regency Vienna under a franchise agreement.
