First Hotel in Austria

Located in a 19th century palace, Ritz Carlton Vienna will be situated on Vienna's most enviable downtown location on Schubertring, RingStrasse. The Ritz-Carlton, Vienna is owned by Kazakhstan based Verny Capital, which earlier this year also completed the acquisition of The Ritz-Carlton, Moscow.

The 202-room hotel is located on Schubertring, the historic and famous site of numerous monumental buildings built during 1860 to 1890. Home of the Vienna State Opera and the Museum of Fine Arts, Vienna is well known for its essential role as a leading European Classical Music Centre.

"We are honored to have been selected by Verny Capital to assume management of this incredible hotel, " said Herve Humler, president and chief operating officer, The Ritz-Carlton Hotel Company, L.L.C. "We have viewed many sites in Vienna over the years and believe this location will offer our sophisticated travelers an exciting new place to explore and enjoy. The Ringstrasse, as it is known, encircles the old city of Vienna. Constructed in the late 19th century this prime location, combined with the exemplary service for which The Ritz-Carlton is known, will produce memorable stays for all our guests when it opens in the second quarter of 2012."

"We are delighted that The Ritz-Carlton Hotel Company will be entering the Austrian market in association with us, " said Timur Issatayev of Verny Capital. "Our selection of The Ritz-Carlton is based on a very strict assessment of the company´s renowned stature in the hospitality industry and our existing relationship with them."

Asked about additional growth in the region for Ritz-Carlton, Humler added, "We continue to explore other opportunities and destinations in Europe. With the region´s strong travel and tourism industry, we see expansion in Europe, with the right hotels in the right locations, to be an essential part of our future strategy."