Al Habtoor Investment Acquires Starwood’s Hotel Imperial, a Luxury Collection Hotel, Vienna for $78.8M

Starwood Hotels & Resorts Worldwide, Inc. | February 16, 2016

STAMFORD, Conn. & BRUSSELS--(February 16, 2016)--Starwood Hotels & Resorts Worldwide, Inc. (NYSE:HOT) today announced that it has closed on the sale of Hotel Imperial, a Luxury Collection Hotel, Vienna to Al Habtoor Investment - the investment arm of UAE conglomerate Al Habtoor Group for $78.8 million USD. As part of the transaction, all rooms and suites of the iconic hotel will be renovated over the next four years. Hotel Imperial will continue to operate as part of The Luxury Collection brand under a new long-term management agreement. Thomas Mangas, Chief Executive Officer of Starwood Hotels & Resorts Worldwide, Inc. said...