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Qatar Said in Talks to Buy St. Regis NYC, San Francisco Hotels

Image: Qatar Said in Talks to Buy St. Regis NYC, San Francisco Hotels

Wednesday, 04 May 2016 07:19 PM

The Qatar Investment Authority is in advanced talks to buy the luxury St. Regis hotels in New York and San Francisco from Starwood Hotels & Resorts Worldwide Inc., according to people with knowledge of the discussions.

The St. Regis New York, a Beaux Arts landmark on 55th Street off Fifth Avenue, has 238 rooms. The California property, across the street from the San Francisco Museum of Modern Art, has 260 rooms. The people with knowledge of the matter asked not to be identified because the talks are private.

Starwood has been trying to sell its remaining real estate as it prepares to be acquired by Marriott International Inc. next quarter, a deal that will create the world’s biggest hotel operator. Starwood is seeking to sell five hotels in the U.S., including the Westin Maui Resort & Spa, Westin Peachtree Plaza in Atlanta and the Tremont Chicago Hotel at Magnificent Mile. It is also trying to sell the leasehold on a sixth property, the W New York - Times Square.

David Henderson, a spokesman for the Qatar Investment Authority, and Carrie Bloom, a spokeswoman for Starwood, declined to comment.

Starwood’s five owned hotels don’t include two properties that are scheduled to be sold to Interval Leisure Group in connection with the pending spinoff of Starwood’s timeshare business.


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The Qatar Investment Authority is in advanced talks to buy the luxury St. Regis hotels in New York and San Francisco from Starwood Hotels Resorts Worldwide Inc., according to people with knowledge of the discussions.The St. Regis New York, a Beaux Arts landmark on 55th...
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2016-19-04
Wednesday, 04 May 2016 07:19 PM
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