By acquiring Golden Tulip, Starwood Capital's hospitality segment holds now the 11th place in the world hotel ranking
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By acquiring Golden Tulip, Starwood Capital's hospitality segment holds now the 11th place in the world hotel ranking
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Category: Worldwide - Industry economy
- Group or hotel buyout
This is a press release selected by our editorial committee and published online for free on 2009-06-15
• Starwood Capital investment fund is in exclusive negotiations to take over all the assets of Golden Tulip Hospitality BV, franchise and management contracts, its brands Golden Tulip and Tulip Inn, its business representation contracts and interests in various joint ventures. • Negotiations should be concluded before the end of June and would lead to a strategic alliance between the economy segment of the Groupe du Louvre controlled by Starwood Capital (Louvre Hotels) and Golden Tulip Hospitality. The new entity would consist of 1 070 hotels and approximately 80 000 rooms in 40 countries. • The Groupe du Louvre includes also Concorde Hotels & Resorts, still controlled by Starwood Capital. Accordingly, the luxury and economy hotel segments take the 11th place in the World Ranking established by MKG Hospitality on the 1st of January 2009, between Hyatt Hotels & Resorts and TUI Hotels, with 1 100 hotels and over 88 600 rooms. • Within the European Union, the new entity would strengthen the current 4th place held by Groupe du Louvre, with almost 76 000 rooms in total.
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