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FINANCIAL NEWS
Qatar’s Katara to buy Westin Excelsior Rome for USD251m
17 Sep 2015
(MENAFN) US-headquartered Starwood Hotels & Resorts Worldwide announced that it has agreed to sell The Westin Excelsior Rome to Qatar’s Katara Hospitality for USD251 million.
As part of the deal, the historic hotel will be renovated in the next five years, including a transformation of all guestrooms, as well as upgrades to the hotel’s public areas.
The award-winning, 316-room hotel is adjacent to the American Embassy and close to all of Rome’s leading attractions, including the Colosseum, the Pantheon and the Sistine Chapel.
“On the heels of our recent high-profile sales of The Phoenician and The Gritti Palace, the sale of the Westin Excelsior Rome brings us to USD817 million of hotel assets sold so far this year,” CEO of Starwood said.
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