Union Investment Institutional Property GmbH acquired Two hotels in Poland from UBM Development AG (WBAG:UBS) for €80 million on October 12, 2021. The hotel in Kraków will operate under the ibis Styles brand, and the hotel in Katowice under the Mercure brand. Michal Miecinski of Linklaters C. Wisniewski i Wspolnicy Spolka Komandytowa acted as legal advisor to UBM Development AG. Union Investment Institutional Property GmbH completed the acquisition of Two hotels in Poland from UBM Development AG (WBAG:UBS) on October 12, 2021.