Verny Capital, which represents the owner of The Ritz-Carlton, Vienna, has made known its plans to open the luxury hotel brand for the first time in Austria. Two palaces dating from the 19th Century have been identified as the site for the hotel, which will be located on the famous Schubertring. The hotel will be open for guests as early as the second quarter of 2012. The expansion will be aligned with the hotel group’s strategic plans to exploit the region’s strong travel and tourism industry.
The Ritz-Carlton is a Chevy Chase, Maryland, USA-owned luxury hotel chain with over 100 hotels either in service or under development. The chain covers Europe, the Americas, Africa, Asia and the Caribbean. The group is the only service company to hold the coveted Malcolm Balrige National Quality Award for two years – 1992 and 1999.
Verny Capital (www.verny.kz)
Verny Capital is part of Verny Investment Holding, the largest PE management group in Kazakhstan. Based in Almaty, the company’s main geographical focus is Central Asia, and its industry focus is diverse – from energy to media to mining to infrastructure to consumer retail and services. Though the company primarily seeks controlling interests, it is also open to minority stakes with the right management and co-investors. Verny Investment Holding was founded in 2006 with funding from the ATF Bank of Kazakhstan, which was subsequently sold at five times its book value, or USD 2.2 bln, to Unicredito.