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Starwood acquires Design Hotels stake

Starwood acquires Design Hotels stake

Starwood Hotels & Resorts is to take nearly 50% of the shares in Design Hotels in what is big news for the global travel and tourism industry.

Starwood has signed an agreement to acquire 49.8% of the shares in the German outfit, but the price to be paid for the stake was not revealed.

It will take the shares from its long-term German partner Arabella Hospitality, for which it already manages or franchises 20 hotels.

It is thought the deal will be completed in the first three months of the new year, however Starwood will not be involved in everyday operations at Design Hotels.

Design Hotels, which is based in Berlin, handles sales, marketing and other services for hotels across the globe.

The deal is awaiting anti-trust approval from German authorities.



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