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 Première 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.
email@example.comAndrew 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 Iä¹«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