The New York Post had a story providing some light into Starwood Capital’s sale of the Crillon hotel in France. Apparently Starwood Capital was in negotiations with JJW Hotels & Resorts – a high end hotel company based in the Middle East to sell the Crillon and nine other hotels from the Societe Du Louvre portfolio. Recently Starwood had instructed their property brokers to look for other sellers as JJW did not pay the entire $214 million deposit. Starwood had doubts that JJW would be able to get the financing to complete the sale of the portfolio as expected.
Read more:
