Starwood gains Tulip

STARWOOD CAPITAL, which includes Le Meridian, Sheraton and Westin, has entered into exclusive talks to buy the Swiss hospitality group Golden Tulip creating one of the world’s largest hotel companies.  The US-based private equity real estate business said in a statement it was planning to merge its budget hotel company, Louvre Hotels, with Golden Tulip, once the deal was closed on 26 June.  In a statement, Starwood Managing Director Rich Gomel noted that the alliance would create a hospitality company with 1,070 hotels in more than 40 countries and comprising around 82,000 rooms.  He added that the combined Louvre/Golden Tulip group would target corporate accounts and grow the brand. www.starwoodcapital.com

Index/Home page
 

OUR READERS' FINEST WORDS (All times and dates are GMT)

All comments are filtered to exclude any excesses but the Editor does not have to agree with what is being said. 100 words maximum