Design Hotels AG / Starwood Hotels & Resorts to Acquire Stake in Design Hotels AG from Arabella Hospitality SE . Processed and transmitted by Thomson Reuters ONE. The issuer is solely responsible for the content of this announcement.
Berlin - December 6, 2011 - Design Hotels AG (ISIN DE0005141006/ WKN 514100) informs that Starwood Hotels & Resorts Worldwide, Inc. (NYSE:HOT) intends to acquire a stake in Design Hotels AG. Starwood Hotels & Resorts Worldwide, Inc. announced today the signing of an agreement with Arabella Hospitality SE (Arabella), one of Starwood's longtime partners in Germany, to acquire 49.8% of the shares of Design Hotels AG. Arabella explains the transaction with its re-focused hotel strategy on ownership and asset management.
"This is an investment presented to us by a longtime partner," said Frits van Paasschen, President and CEO of Starwood Hotels & Resorts. "With our own passion for design and innovation, we have long admired Design Hotels, its founder, CEO Claus Sendlinger, and his executive team, who have worked closely with some of the world's most exciting independent hotel owners to curate a unique collection of hotels around the globe. As a shareholder, we are delighted to have a seat at the table of this dynamic company."
"Having Starwood with its leading global footprint and lifestyle brands as an investor is a further validation that Design Hotels is a strong brand of global relevance as we continue to grow and focus on our niche in the New Luxury hotel segment," said Claus Sendlinger. "Furthermore, Starwood has a keen appreciation for what makes Design Hotels distinct and special, and that is the creative spirit of our visionary hoteliers."
According to van Paasschen and Sendlinger, Starwood will not be involved in the day-to-day operations of Design Hotels, nor will Design Hotels participate in any of Starwood's centralized delivery systems including reservations and Starwood Preferred Guest.
The transaction, which is subject to anti-trust approval in Germany, is expected to close in the first quarter of 2012.
Contact:
Design Hotels AG
Claus Sendlinger (CEO)
Stralauer Allee 2c
10245 Berlin
Tel. +49 (0)30 88 494 00 14
Fax +49 (0)30 25 933 01 7
ir@designhotels.com (mailto:ir@designhotels.com)
Schwarz Financial Communication
Frank Schwarz
Tel. +49 (0)611 17453 9811
Fax +49 (0)611 17453 9829
schwarz@schwarzfinancial.com
ABOUT DESIGN HOTELS(TM)
Design Hotels(TM) represents and markets a curated selection of more than 200 independent hotels in over 40 countries across the globe. More than a collection of hotels, the company is a collection of stories. Each property reflects the ideas of a visionary hotelier, an "Original," someone with a passion for genuine hospitality, cultural authenticity, thought-provoking design and architecture. Each "Original" stands for the individual, aesthetic and service-driven experience that his or her hotel provides. Founded by Claus Sendlinger in 1993, Design Hotels(TM) offers its members insightful travel industry knowledge, from market trend consultancy to international sales representation. The company has its headquarters in Berlin and branches in London, Barcelona, New York, Singapore and Perth. For more information, please visit www.designhotels.com (http://www.designhotels.com/) and www.madebyoriginals.com (http://www.madebyoriginals.com/)
Design Hotels AG; Unofficial Regulated Market Börse München (m:access; ISIN: DE0005141006)
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Source: Design Hotels AG via Thomson Reuters ONE
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Design Hotels AG
Stralauer Allee 2c Berlin Germany
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