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Austrian Retail and Consumer Headlines

Arcotel Hotel AG Takes Over Third Hotel in Vienna Donau-Zentrum

Austrian Arcotel Hotel AG is opening a four-star hotel in Vienna's Donau-Zentrum in May 2017. It is its third facility in the Austrian capital. In December 2015 the firm had acquired Parkhotel Castellani in Salzburg. As of May next year the company will control 12 hotels in Austria altogether.

July 27, 2016

Wine Exports Fell 1.1 Percent in 2015

After eight good years, last year marked a decline of wine exports, the wine industry in Austria reports today. The export value was EUR 143 million, less by 1.1. percent y/y. Austrian winemakers have shipped in total 48 million liters of wine abroad.

July 27, 2016

Heta Bad Bank Sells Iconic Holiday Inn Sarajevo Hotel

Bad bank Heta sold the Holiday Inn hotel in Sarajevo to tourism group Europe d.d., the company said. The iconic Holiday Inn Sarajevo was home of foreign correspondents during the 1984 Winter Olympics and throughout the siege of Sarajevo during the Bosnian War. The price was not disclosed.

July 20, 2016

Refugees: Rosenberger Closure Incomprehensible for Asfinag

The closure of service station on the Brenner passage by the motorway service station operator Rosenberger is "not understandable” for Asfinag. The operator of companies on the Brenner passage were informed of the measures in advance. "During talks these measures were acknowledged and accepted” motorway maintenance company said.

July 19, 2016

Wolford Builds New Structure, Retains Production in Europe

The tights and underwear company Wolford is working on its savings program. In the past two years the company closed more than 20 loss-making branches, mostly smaller outlets. At the same time new shops are opening in new locations. The company will hold on to its production facilities in Vorarlberg and Slovenia.

July 15, 2016

Administrative Court Annuls Two Casino Licenses Allocation to Novomatic

Austria's administrative court VwGH annulled the allocation of two of the three casino licenses, granted by the Finance Ministry to gambling group Novomatic, the court ruled. The allocation of licenses by the ministry in 2014 lacked transparency, the top administrative court said, confirming the decision of the federal administrative court BVwG.

July 15, 2016

Investor Al Jaber Sells Vienna Hotel "The Ring"

Investor Mohamed Al Jaber sold the Vienna-based hotel "The Ring", the economic magazine Trend reports. The Ring last posted some EUR 4 million (USD 4.4 million) revenues and just over EUR 0.1 million net profit.

July 15, 2016

Austrians to Raise Spending on Foreign Travels

Austrians will spend EUR 7.6 billion (USD 8.4 billion) on traveling abroad in 2025, up by 15 percent versus EUR 6.6 billion in 2015, shows a study by payments operator Visa.

July 14, 2016

Agrana’s CEO Expects Sugar Price Hike in 2016

The head of Agrana, Johann Marihart, expects a rise of sugar prices in 2016, even though the good prospects for sugar beet crops this year mean that the sugar production volume will be higher and will thus act as a price-reducing factor. The current four-year high of the world sugar price is due to small stock reserves. However, due to the EU market regulation this factor has only a limited impact on EU prices.

July 7, 2016

Novomatic: Ainsworth Minority Shareholders Agree to Investment

During today’s general shareholder meeting minority shareholders of Australian gambling group Ainsworth Game Technology have agreed to the planned acquisition of a stake in Ainsworth by Austria’s listed gambling company Novomatic. This forms the basis for a stable, prospective collaboration of the two gaming technology enterprises, Novomatic announced in a statement.

June 27, 2016