STARWOOD CAPITAL ACQUIRES FOUR PILLARS IN THE UK
Starwood Capital Group has purchased UK hotel chain Four Pillars Hotels for an estimated £90 million. Four Pillars fell into administration in 2009, and was reportedly sold this week by HSBC, Allied Irish Bank and Bank of Ireland. The chain consists of five owned and leased assets and one managed hotel across southern England: the Cotswold Water Park Four Pillars Hotel (255 guest rooms and 63 self catering apartments), the Grade II-listed 189-room Tortworth Court Four Pillars Hotel, the 170-room Oxford Spires Four Pillars Hotel, the 84-room Oxford Thames Four Pillars Hotel, the 87-room Oxford Witney Four Pillars Hotel and the 66-room Oxford Abingdon Four Pillars Hotel. “Four Pillars offers high-quality, full-service, four-star hotels in superb locations,” said Starwood Capital’s senior vice president, Kevin Colket. “We look forward to building on the company’s operational excellence and its longstanding client focus,” he added.