JLL’s Hotels & Hospitality Group has advised Starwood Hotels & Resorts Group in the sale of two assets in Florence for a total sale price of approximately Euro 190 million.
The St. Regis hotel comprising 99 rooms and the Westin Excelsior with 171 rooms have been acquired by Qatar based Nozul Hotels & Resorts Group.
Roberto Galano, executive vice president of JLL Hotels & Hospitality Group in Italy said: “Florence is one of the most active Italian luxury hotel markets, and this was a rare opportunity to invest in two properties as part of Starwood’s stated strategy of exiting or transferring a number of its owned assets.”
Nozul Hotels & Resorts Group has been active in other parts of the Italian hotels market, having recently bought Gritti Palace in Venice in a similarly high profile transaction.
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