M&A Deal Summary

Host Hotels & Resorts Acquires The Phoenician

On June 8, 2015, Host Hotels & Resorts acquired leisure company The Phoenician from Starwood Hotels & Resorts Worldwide for 400M USD

Acquisition Highlights
  • This is Host Hotels & Resorts’ 2nd transaction in the Leisure sector.
  • This is Host Hotels & Resorts’ 2nd largest (disclosed) transaction.
  • This is Host Hotels & Resorts’ 5th transaction in the United States.
  • This is Host Hotels & Resorts’ 1st transaction in Arizona.

M&A Deal Summary
Date 2015-06-08
Target The Phoenician
Sector Leisure
Buyer(s) Host Hotels & Resorts
Sellers(s) Starwood Hotels & Resorts Worldwide
Deal Type Divestiture
Deal Value 400M USD

Target

The Phoenician

Scottsdale,, Arizona, United States
website
The Phoenician, a Luxury Collection Resort boasts a scenic 300-acre setting at the base of Camelback Mountain. The AAA Five-Diamond, Forbes Four-Star rated Phoenician is ideally located in one of the premium resort markets in the southwest, within close proximity of the nightlife, galleries, museums and businesses of downtown Scottsdale.

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Buyer(S) 1

Buyer

Host Hotels & Resorts

Bethesda, Maryland, United States

website

Category Company
Sector Real Estate
Employees160
Revenue 2.9B USD (2021)
DESCRIPTION

Host Hotels & Resorts is a premier lodging real estate company. Company own high quality lodging assets in prime urban, airport and resort/convention locations. Creating value through aggressive asset management and disciplined capital allocation to generate superior performance. Host Hotels & Resorts is based in Bethesda, Maryland.

DEAL STATS #
Overall 9 of 9
Sector (Leisure) 2 of 2
Type (Divestiture) 4 of 4
State (Arizona) 1 of 1
Country (United States) 5 of 5
Year (2015) 1 of 1
Size (of disclosed) 2 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-10-06 B2 Miami Downtown

Miami,, Florida, United States

B2 Miami Downtown operates as a hotel in Miami.

Buy $58M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-02 Sheraton Boston Hotel

Boston, Massachusetts, United States

Sheraton Boston Hotel is an operator of a four-star hotel in Boston's Back Bay neighborhood with a full-service restaurant and spa. Sheraton Boston Hotel was founded in 1965 and is based in Boston, Massachusetts.

Sell -

Seller(S) 1

SELLER

Starwood Hotels & Resorts Worldwide

Stamford, Connecticut, United States

website

Category Company
Founded 1969
Sector Leisure
Employees180,400
Revenue 5.8B USD (2015)
DESCRIPTION

Starwood Hotels & Resorts Worldwide, Inc. is a hotel and leisure company with more than 1,270 properties in some 100 countries and over 180,000 employees at its owned and managed properties. Starwood is a fully integrated owner, operator and franchisor of hotels, resorts and residences under the renowned brands: St. Regis, The Luxury Collection, W, Design Hotels, Westin®, Le Méridien, Sheraton, Four Points by Sheraton, Aloft, Element, and the recently introduced Tribute Portfolio™. Starwood was formed in 1969 and is based in Stamford, Connecticut.

DEAL STATS #
Overall 19 of 21
Sector (Leisure) 8 of 9
Type (Divestiture) 19 of 21
State (Arizona) 2 of 2
Country (United States) 12 of 13
Year (2015) 2 of 4
Size (of disclosed) 1 of 14
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-05-12 The Gritti Palace

Venice,, Italy

The Gritti Palace is a private residence of Doge Andrea Gritti, The Gritti Palace has built a reputation as one of the world’s most iconic and luxurious hotels. Many of the property’s 82 rooms offer breathtaking views of the Grand Canal and Santa Maria della Salute.

Sell €105M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-07-07 Element Denver Park Meadows

Lone Tree,, Colorado, United States

Element Denver Park Meadows operates as a hotel in Colorado. Element Denver Park Meadows is located just south of Denver with easy access to downtown businesses, shopping, dining and entertainment via the nearby RTD light rail line.

Sell $16M
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