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£2.5bn Starwood deal

10 Apr 2006

Host Marriott stockholders have given their approval to a US$3.76bn (£2.5bn, E3.1bn) deal to acquire 35 properties from Starwood Hotels & Resorts, including the Sheraton Skyline Hotel at London Heathrow airport.

The Starwood group, whose brands include Sheraton, St Regis and The Luxury Collection, owns 733 hotels in more than 80 countries, including 10 in the UK.

Host Marriot currently owns or holds controlling interests in 102 upscale and luxury hotel properties primarily under their Marriott, Four Seasons and Fairmont brands.

A spokesperson for Marriott said the group is expecting to complete the purchase of 30 of the hotels by 10 April, and a further four based in Europe, by 3 May this year.

The final stage will be the purchase of the Westin Europa & Regina in Venice, Italy, by no later than 15 June.

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