Salzburg’s stalled hotel project still has no buyer

A failed hotel project beside Salzburg City Hall remains unsold more than two months after its insolvency, ORF reports. The construction site at the Staatsbrücke, a bridge in Salzburg, has been idle for nearly two years, though the insolvency administrator says several parties have expressed interest in the property.

The project, called Am Goldeck, became insolvent on August 25. Its project company closed in early September because the funds available were insufficient to continue. Its latest balance sheet, at the end of 2024, listed more than 30 million euros in liabilities.

Renovation work on three listed historic buildings at Rathausbogen, beside the city hall, stopped about two years ago after construction firms went unpaid. Expectations that the buildings would quickly find a buyer because of their central location have not been met.

Insolvency administrator Helmut Hüttinger said negotiations were under way with several interested parties, but no buyer had been confirmed. A court-ordered auction remains possible; proceedings for one began last year.

The property has several registered liens totalling about 22 million euros. The amount of claims in the current insolvency will become clearer at the first creditors’ meeting and claims review hearing at Salzburg Regional Court on November 12.