4Hoteliers
SEARCH
ITB 2023 Special Reporting
SHARE THIS PAGE
NEWSLETTERS
CONTACT US
SUBMIT CONTENT
ADVERTISING
Starwood inks binding agreement for Golden Tulip purchase.
Tuesday, 7th July 2009
Source : Andrew Calvo ~ Passions Of A Zealot
Just a quick note to mention that Starwood Capital has signed a binding agreement for the purchase of Golden Tulip Hospitality, althought originally the transaction was supposed to be signed by June 26th, but on July 3rd it was announced the agreement was signed.

The transaction will close on July 27th, at which time Golden Tulip will be fully owned by Starwood Capital, that includes all joint ventures, development, and management of the Golden Tulip, Tulip Inns and their related brands.

Golden Tulip is expected to be combined with Starwood's Louvre Hotel Group, and will add to Starwood's already large portfolio of European hotels under the Premire Classe, Campanile, Kyriad and Kyriad Prestige brands. This purchase will further solidify Starwood's standing as the second largest European hotel group in the economy and mid-scale segment and makes Starwood Capital the 11th largest hotel operator in the world.

Its also worth noting that Golden Tulips current CEO Hans Kennedie will step down from that role, but has been offered a position within Starwood Capital as an independent senior advisor to International Franchise Development, it looks like Starwood is not resting on its laurels in conquering the international franchised hotel market.

andrew@alconic-inc.com

Andrew Calvo is a 26 year old Commercial Real Estate Advisor in New Jersey. I live in Tinton Falls, NJ. This blog is about my passions - primarily hotels, commercial real estate, and development, etc.

Since I have been in High School I乫ve had numerous jobs, but the field which has always interested me is Real Estate, Hotel Development and Construction. I consider myself a zealot in that area - I try to absorb as much as I possibly can, take the experiences that I learn, or read about and use them in my life.

www.passionsofazealot.com
 Latest News  (Click title to read article)




 Latest Articles  (Click title to read)




 Most Read Articles  (Click title to read)




~ Important Notice ~
Articles appearing on 4Hoteliers contain copyright material. They are meant for your personal use and may not be reproduced or redistributed. While 4Hoteliers makes every effort to ensure accuracy, we can not be held responsible for the content nor the views expressed, which may not necessarily be those of either the original author or 4Hoteliers or its agents.
© Copyright 4Hoteliers 2001-2023 ~ unless stated otherwise, all rights reserved.
You can read more about 4Hoteliers and our company here
Use of this web site is subject to our
terms & conditions of service and privacy policy