Austria-based bank, Hypo Alpe-Adria-Bank, is selling its stake in Schloss Velden hotel, in Austria, The Wall Street Journal reports. The buyer of the luxury resort is an Italian hotelier, Ugo Barchiesi.

Though the financial details of the transaction have not been disclosed, the deal size is expected to be in the €60 million range, considerably less than the €100 million the bank and its partner had invested in the property. The buyer plans to continue to operate the hotel as a five-star resort.

Click here for the story from The Wall Street Journal.