Global Edition

Starwood Capital Group Acquires De Vere Venues

7.38am 13th March 2014 - Corporate

Staverton Park Golf Club
Staverton Park Golf Club

Starwood Capital Group, a leading global private investment firm, has acquired, through a controlled affiliate, U.K. hotel and conference centre operator De Vere Venues from the De Vere Group for approximately $385 million (£232 million).

The transaction includes a high-quality collection of 23 owned and leased hotels comprising 2,433 keys, 374 meeting rooms and 414,000 square feet of meeting space, predominately located in Greater London. The portfolio also includes nine management and franchise contracts.

“We are very pleased to add De Vere Venues to our growing portfolio of attractive and well-placed assets in the United Kingdom,” said Kevin Colket, Senior Vice President at Starwood Capital Group. “The company serves a number of long-term, blue-chip corporate customers, and we look forward to building upon its reputation for operational excellence.”

De Vere Venues’ portfolio includes a number of impressive properties, including:

With the acquisition of the 23-hotel Principal Hayley Group in February 2013, the five-property Four Pillars Hotels portfolio in January 2014 and this purchase of De Vere Venues, Starwood Capital Group has invested approximately $1.16 billion (£700 million) in the U.K. hospitality sector over the past 13 months.

Starwood Capital Group www.starwoodcapital.com

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