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Starwood Capital in the running for De Vere Venues

1 min reading time

Published on 13/08/13 - Updated on 17/03/22

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De Vere Hotel

The American investment fund could soon acquire the De Vere Venues supply.

Last March, the American fund Starwood Capital purchased Principal Hayley, one of the principle residential conference center managers in the United Kingdom and Europe. Several months mater, is about to put itself in this same position by finalizing the appropriation of Principal Hayley's major competitor, De Vere Venues with 30 residential meetings venues.The Lloyds Banking Group, owner of the De Vere group, is ready to take itself out of this business if it gets a good price. The figure of £280 million (€325 million) was proposed for the transaction, for the 30 centers under management.Starwood Capital is presented as the current principal interlocutor for Llyods, but another fund, TDR Capital, is also in the running according to the British financial press.

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