UBM Development AG and Warimpex Finanz- und Beteiligungs AG plan to sell two hotels in Disneyland Paris to an unnamed buyer for roughly €110 million.
While an agreement has been reached with an international investor on the financial terms, definitive sale agreements and implementation are subject to the conclusion of consultations with employees as required by French law.
UBM and Warimpex are 50/50 joint venture partners in the assets, which total roughly 800 rooms and have more than 1,200 square meters of conference space.
Vienna House Dream Castle opened in 2004 and Vienna House Magic Circus opened in 2007.
The deal is expected to close in 2019, subject to conditions.
