Acron completes sale of Steigenberger Hotel Gstaad
Acron Helvetia II Immobilien AG has sold the Steigenberger Alpenhotel and Spa in Gstaad-Saanen to Huus Gstaad AG. The approval of the transaction, which was already announced in mid-November, was granted by the shareholders at the Extraordinary General Meeting on December 3, 2015.
According to Acron, the total proceeds amount to CHF 26.29 million, which is approximately CHF 1.5 million above the property value determined as of June 30, 2015, and approximately CHF two million above the purchase price on March 31, 2005. The annual distribution during the ten-year holding period averaged 6.2 percent. The Company expects an additional distribution of CHF 80 to 90 per registered share as a result of the sale.
With the sale of the property, Acron Helvetia II Immobilien AG will also be dissolved, liquidated and subsequently delisted.
"With the proceeds from the sale, the company will have distributed a total of approximately CHF 150 per share, or 150 percent of their original invested equity, for the shareholders involved since the beginning of the investment," said Kai Bender, CEO of Acron.
The four-star Steigenberger Alpenhotel and Spa in the Gstaad-Saanen tourist region comprises 132 rooms and six conference rooms, making it one of the leading hotels in the Bernese Oberland region. The lease with Steigenberger ends next year, and the new owner Huus Gstaad AG plans to reopen the hotel at the end of 2016 after a renovation with a new concept. (ah)
