Private investment firm Starwood Capital Group has successfully acquired hotel firm Principal Hayley Group for an undisclosed sum.
The deal, which has been ongoing for a while now sees Starwood add Principal Hayley's 23 city centre hotels and conference and training venues across the UK and Europe into its growing portfolio which includes the Louvre hotel group, comprising 1,100 hotels across 39 countries, and interests in many of the Meridien hotels including the Etoile in Paris and the Eden in Rome, as well as the luxury Baccarat Hotel & Resorts brand and the lifestyle eco-brand, 1 Hotels & Resorts. Principal Hayley's hotels include the George, Edinburgh, the St David’s Hotel, Cardiff, the Grand Central Hotel, Glasgow and the Hotel Russell, London.
Jeff Dishner, Senior managing director of Starwood has said they intend to use their branding expertise to maximize the value of each property in the portfolio.