HVS HODGES WARD ELLIOTT ADVISES ON ACQUISITION OF ST. REGIS AND WESTIN HOTELS IN FLORENCE

Starwood Hotels & Resorts has sold two hotels in Italy’s Tuscan capital, Florence, to Nozul Hotels & Resorts, the hospitality arm of Qatar-based conglomerate Jaidah Holdings, for €190 Million. The 99-room St. Regis Florence, which dates from 1432, and the 171-room Westin Excelsior Florence will continue to be operated by Starwood under new long-term management agreements. HVS Hodges Ward Elliott advised Jaidah Holdings throughout the transaction, as they did when Nozul acquired the Gritti Palace in Venice in 2015.

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