STARWOOD CAPITAL BUYS DE VERE VENUES

In its second major deal of 2014 Starwood Capital Group has purchased De Vere Venues for £232 million. The deal includes De Vere’s 23 owned and leased conference hotels (2,433 guest rooms), 374 meeting rooms and 414,000 ft² of event space across the UK (mainly concentrated in Greater London). Combined with Starwood Capital’s acquisition of the Four Pillars portfolio, in January 2014, and its purchase of Principal Hayley, in March 2013, this acquisition brings the group’s investment in the UK’s hospitality market up to £700 million over the past year.

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