LONDON - Starwood Capital Group, a global private investment firm, has expanded its European hotel portfolio with the acquisition of 10 Central London hotels from Edwardian Group. The transaction, which was completed off-market for an undisclosed sum, sees the transfer of 2,053 rooms into Starwood's holdings.
Edwardian Group, retaining ownership of The Londoner and two Radisson Collection hotels, will continue to manage the acquired properties on a transitional basis. This collaboration paves the way for future joint ventures between the two entities.
Tim Abram, Managing Director at Starwood Capital, expressed enthusiasm for the acquisition, citing London's status as a premier hotel market and revealing plans for substantial capital investment to enhance the properties. Inderneel Singh, CEO of Edwardian Group, views the sale as a strategic move to refocus the group for future growth.
The acquisition boosts Starwood Capital's European presence to 47 hotels, totaling approximately 10,000 rooms. The firm's global real estate portfolio is part of its broader strategy, which has seen over $75 billion of capital raised since its inception in 1991.
This report is based on a press release statement.
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