Starwood Hotels & Resorts Worldwide, Inc. has closed on the sale of The St. Regis Florence and The Westin Excelsior Florence to Nozul Hotels & Resorts, the owner of The Gritti Palace, Venice and W Doha Hotel, and a wholly owned subsidiary of “Jaidah Holdings” for €190 million (approximately US$213 million).
Starwood will continue to operate the hotels under the St. Regis and Westin brand flags under new long-term management agreements.
“I am delighted that Jaidah Holdings have purchased these landmark Florentine assets as they have proven to be excellent owners and partners with whom we now collaborate on four wonderful hotels, including W Doha, the first W Hotel in the Middle East, and The Gritti Palace in Venice,” said Michael Wale, President, Europe, Africa and the Middle East for Starwood.
The St. Regis Florence was originally built in 1432 by Filippo Brunelleschi and is considered to be one of the most significant buildings in the city for its artistic and historical value. The hotel on the banks of the Arno River was converted from a Luxury Collection to a St. Regis Hotel in November 2011. It features 99 guestrooms, including 19 suites, approximately 6,500 square feet of meeting space, the Iridium Suites Spa My Blend by Clarins and three restaurants and lounges. Partially renovated in 2014 and again in 2016, The Westin Excelsior Florence features 171 rooms, including 15 suites, approximately 5,700 square feet of meeting space, a WestinWORKOUT® fitness center and two food and beverage outlets, including the rooftop bar and restaurant SE-STO on Arno.