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Starwood Sells The St. Regis, Rome

Home Search Send to Friend Latest Travel News Asia Tuesday, 21 October 2014
 

Starwood has sold The St. Regis, Rome to subsidiaries of Constellation Hotels Holding for 110 million (approximately US$150.7 million).

Starwood will continue to operate the hotel under the St. Regis brand flag as part of a new long-term management agreement.

We are delighted to partner with Constellation who shares our vision for The St. Regis, Rome which has always been one of the brands most iconic properties, said Michael Wale, President, Europe, Africa and the Middle East for Starwood. For nearly 15 years, the St. Regis in Rome has delivered unparalleled luxury experiences in a magnificent architectural setting and we are thrilled to build on the brands storied legacy to welcome travelers at this landmark property for many years to come.

The St. Regis, Rome was originally opened as the Grand Hotel in 1896 by renowned hotelier Csar Ritz. Following a $35 million refurbishment completed in 2000, The St. Regis, Rome became the first St. Regis hotel to open in Europe.

 Subject to obtaining the required administrative authorizations, Constellation Hotels Holding will complete further renovations to The St. Regis, Rome, including upgrades to all 161 guestrooms and suites and a redesign of the restaurant and lounge. In addition, improvements will be made to the hotels lobby, meeting space, business center and exterior faade.

The St. Regis, Rome is an outstanding addition to our growing global portfolio of world-class assets in the worlds most desirable destinations, said Zaki El Guiziri, CEO of Constellation. Building on its rich legacy, The St. Regis caters to the next generation of luxury travelers with its uncompromising elegance, modern amenities and bespoke service. I take this opportunity to express our thanks to our advisors Hogan Lovells and BNP Paribas for their assistance in the closing of the transaction.

Ideally located at Via Vittorio Emanuele Orlando 3, The St. Regis, Rome overlooks the Piazza della Repubblica in central Rome. It is within walking distance of the celebrated Via Veneto district of Rome and close to numerous landmarks, including Santa Maria della Vittoria, Sainta Susanna at the baths of Diocletian, Fountain of Moses, St. Mary of the Angels and the Martyrs, The National Museum of Rome and Via Nazionale.

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