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Starwood purchases stake in Design Hotels

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Published on 07/12/11 - Updated on 17/03/22

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Starwood Hotels & Resorts Worldwide agreed on Tuesday to acquire 49.8% of the shares of Design Hotels AG from one of Starwood's longtime partners in Germany: Arabella Hospitality SE

Starwood will remain outside Design Hotels' daily activities. Design Hotels participate in any of Starwood's centralized delivery systems including reservations and Starwood Preferred Guest.The transaction is expected to close in the first quarter of 2012 after it gets anti-trust approval in Germany.Starwood is now the majority shareholder in Design Hotels. Founder and CEO Claus Sendlinger holds 12.94%, private investor Oliver Schmidt holds 56.24% and individual freefloat investors hold 32%.The services that Berlin-based Design Hotels provides for more than 200 design-driven member hotels in 40 countries includes: -* distribution, -* sales, -* marketing and -* consulting services.Arabella Hospitality SE recently re-focused its hotel strategy mainly on ownership and asset management and therefore chose to unload its shares in Design Hotels. Starwood will still manage or franchise 20 of Arabella Hospitality SE's hotels in Europe.The transaction is expected to close in the first quarter of 2012 after it gets anti-trust approval in Germany.

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