Starwood Capital Group has acquired De Vere Venues for US$385 million (GBP232m).
The investment firm has taken over the running of the 23 owned and leased hotels from the De Vere Group, which includes 2, 433 rooms and 374 meeting rooms.
“We are very pleased to add De Vere Venues to our growing portfolio of attractive and well-placed assets in the United Kingdom,” said Kevin Colket, senior vice president at Starwood Capital Group. “The company serves a number of long-term, blue-chip corporate customers, and we look forward to building upon its reputation for operational excellence.”
Starwood Capital Group previously bought out the Principal Hayley Group in February 2013 and Four Pillars Hotels in January 2014.
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