Starwood continues asset-light strategy

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Starwood Hotels & Resorts has announced that it has closed on the sale of The St. Regis Florence and The Westin Excelsior Florence to Nozul Hotels & Resorts, the owner of The Gritti Palace, Venice and W Doha Hotel, and a wholly owned subsidiary of Jaidah Holdings for €190 million.

Starwood will continue to operate the hotels under the St. Regis and Westin brand flags under new long-term management agreements.

The St. Regis Florence was originally built in 1432 by Filippo Brunelleschi and is considered to be one of the most significant buildings in the city for its artistic and historical value. The hotel on the banks of the Arno River was converted from A Luxury Collection Hotel to a St. Regis Hotel in November 2011. It features 99 guestrooms, including 19 suites, approximately 603 square metres of meeting space, the Iridium Suites Spa My Blend by Clarins and three restaurants and lounges.

Partially renovated in 2014 and again in 2016, The Westin Excelsior Florence features 171 rooms, including 15 suites, approximately 529 square metres of meeting space, a WestinWORKOUT fitness centre and two food and beverage outlets, including the rooftop bar and restaurant SE-STO on Arno.

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