Starwood to acquire Golden Tulip
(NewDesignWorld Press Release Center) -- Starwood Capital investment fund is currently in negotiations to take over Golden Tulip Hospitality BV.
The deal would incorporate all assets, franchise and management contracts, as well as the brands Golden Tulip and Tulip Inn, commercial representation contracts and various joint venture interests.
Negotiations should be concluded by the end of June and would lead to a strategic alliance between the Budget segment of 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.
Groupe du Louvre also includes Concorde Hotels & Resorts, still controlled by Starwood Capital. Accordingly, the Luxury hotel and Budget segments take the 11th place in MKG Hospitality’s World Ranking 2009.
Within the European Union, the new group would strengthen the current 4th position held by Groupe du Louvre, with almost 76,000 rooms in total.
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For further information please contact:
MKG Hospitality
Argo House - Kilburn Park Road
LONDON NW6 5LF – UNITED KINGDOM
T : + 44 (0) 20 76 24 40 30
M : +44 (0)7 88 44 11 882
E: press@mkg-group.com
Web: http://www.mkg-group.com
MKG Database Department
50, Rue Dombasle
75015 PARIS - FRANCE
Tel: +33 1 56 56 87 87
Fax: +33 1 56 56 87 88
E: bdd@mkg-hospitality.com
Web: http://www.mkg-hospitality.com
About MKG Group
Established in 1985, MKG Group has built a reputation for solid business expertise and substantial know-how in the fields of tourism, lodging and food service. MKG Group meets the needs of each of its clients by providing the valuable analytical and decision-making skills necessary for success. http://www.mkg-group.com
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