Schoenherr advised Hyatt International, one of the biggest hotel investor and operator groups worldwide headquartered in Chicago, USA, on the establishment of a 50/50 joint venture structure for the construction and operation of a five-star hotel branded 'Andaz am Belvedere' together with the Austrian Signa Group.

The property is located on the new Hauptbahnhof (Vienna's central train station) development area. The five-star hotel will be adjacent to three residential towers also to be newly built, and the whole complex will be designed by renowned architect Renzo Piano. The opening of the hotel with restaurants, conference facilities, a rooftop bar, and approximately 300 rooms is envisaged for the first quarter of 2019.

This will be the second cooperation of Hyatt and Signa in Austria, as Hyatt is already managing the luxury hotel 'Park Hyatt Vienna' located in the first district (Am Hof, Goldenes Quartier).

The Schoenherr team advising Hyatt International was led by Arabella Eichinger (counsel, Real Estate), and also consisted of Laurenz Schwitzer (associate, Banking and Finance), Serap Aydin (associate, Real Estate) and Dieter Wohlmuth (associate, Regulatory). Gibson, Dunn & Crutcher LLP (London) was also involved on Hyatt's side.

Signa was advised by Andreas Eder and Bernhard Vetter von der Lilie, Arnold Rechtsanwälte.