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Austria: Staycity Group has partnered with Vienna-based JP Immobilien to develop a 300-unit aparthotel in the 4th district of Vienna.
Work on the project, which will be part new-build and part conversion, is expected to start later this summer. Completion is scheduled for 2028.
Staycity Group has secured a 20-year lease on the asset. Subject to planning, the aparthotel will provide up to 300 apartments including studios, one- and two-bedroom units, as well as a gym, coworking areas, a café bar, and an underground car park.
Andrew Fowler, chief development officer at Staycity Group, said: “This acquisition marks our first partnership with JP Hospitality and represents an important step in expanding our Vienna footprint. The new aparthotel will complement our recently opened Wilde, Vienna Fleischmarkt, while also helping to set a new benchmark for the repositioning of the Staycity Aparthotels brand.”
Daniel Jelitzka, owner and managing partner of JP Immobilien, said: “With its prime location, scale and operator quality, the Staycity Aparthotel represents a blue-chip hospitality asset. JP Hospitality has brought its development expertise to ensure the project meets the expectations of core investors, both economically and in terms of long-term sustainability.”
Jürgen Wagner, head of property development at JP Immobilien, added: “Our ambition is to deliver projects that are architecturally and functionally compelling while creating genuine value within the urban fabric. This development in Wieden reflects that approach, with a strong focus on responsible resource use and long-term viability.”
Marc P. Werner and Sabrina Greubel of Hogan Lovells International LLP in Frankfurt acted as lawyers for Staycity Group during negotiations.
The group has a contracted pipeline of 5,400 keys and a further 1,500 in exclusivity.
Highlights:
- Staycity Group has partnered with JP Immobilien to develop a 300-unit aparthotel in Vienna, Austria
- The project will combine new-build and conversion elements, with construction starting in summer 2026 and completion expected in 2028
- Staycity has secured a 20-year lease, with the aparthotel set to include studios, one- and two-bed apartments, coworking space, a gym and café bar
- It marks the group’s second Staycity-branded site in the city, following the opening of Wilde Vienna Fleischmarkt
- The scheme forms part of Staycity’s wider pipeline, which includes 5,400 contracted keys and 1,500 rooms under exclusivity
