December 6, 2011
Starwood Hotels & Resorts has signed an agreement to acquire 49.8-per-cent of the shares of Design Hotels AG from Arabella Hospitality SE, one of Starwood’s longtime partners in Germany.
Berlin-based Design Hotels, a publicly traded company and provider of distribution, sales, marketing and consulting services for hotels, maintains a portfolio of over 200 member properties in 40 countries.
Design Hotels’ properties are independently owned, but feature fashion-forward design.
The opportunity to acquire a stake in Design Hotels came through Starwood’s relationship with Arabella Hospitality SE, which recently re-focused its hotel strategy mainly on ownership and asset management and as a result chose to divest its shares in Design Hotels.
Starwood continues to manage or franchise 20 of Arabella Hospitality SE’s hotels in Europe.
The transaction, which is subject to anti-trust approval in Germany, is expected to close in the first quarter of 2012.
Visit Starwood’s site