Starwood Capital Group Acquires Four Pillars Hotels
Thursday January 16th, 2014 - 9:56AM E
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GREENWICH, CT—A fund affiliated with Starwood Capital Group, a global private investment firm, announced today that it has acquired United Kingdom hotel owner and operator Four Pillars Hotels for an undisclosed amount.
The transaction includes a portfolio of five owned and leased hotels and one managed hotel in Oxfordshire and the surrounding areas, comprising 863 rooms. The historic city of Oxford is one of the UK's leading business and tourist destinations, attracting more than 9.5 million domestic and international visitors annually, according to Starwood Capital Group.
"Four Pillars offers high-quality, full-service, four-star hotels in superb locations," stated Kevin Colket, SVP at Starwood Capital Group. "We look forward to building on the company's operational excellence and its longstanding client focus."
The portfolio's properties include Cotswold Water Park, a modern, 328-room hotel located in Cotswolds; Tortworth Court, a 190-room, Victorian mansion hotel surrounded by 30 acres of parkland; Oxford Spires, a 174-room hotel located within a half-mile of Oxford's city center; Oxford Thames, a newly expanded, 84-room hotel located in the countryside just three miles from Oxford; Oxford Witney, a contemporary, 87-room hotel set near the historic market town of Witney; and Oxford Abingdon, a 66-room hotel managed by Four Pillars located in the town of Abingdon-on-Thames.
Tags: Starwood Capital Group • Hospitality • Acquisitions •
When you hear all the lodging industry projections for the months and years to come, much of the robust growth is forecast to be the result of the expected influx of travelers from China. In what could only be seen as good news for the industry, that expectation moved a little closer to reality when President Obama signed a visa waiver extension for Chinese travelers earlier this month.