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Starwood Capital sells 14-hotel portfolio

Time：2018-05-08 09:05

Category：

Tag：Starwood Capital

U.S. private equity firm Starwood Capital Group has sold a portfolio of 14 properties under the Principal Hotel Group umbrella to French real estate investment trust Foncière des Régions via its dedicated hotel subsidiary Foncière des Murs for £858 million ($1.17 million), according to a news release from the company.

The portfolio formerly owned by Starwood Capital contains 2,638 rooms. Ten of the hotels in the deal are currently branded under the Principal brand and two under the De Vere brand.

A news release from Starwood Capital notes the deal is expected to close in June.

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