M&A Deal Summary |
|
|---|---|
| Date | 2013-04-25 |
| Target | W New Orleans |
| Sector | Restaurants |
| Buyer(s) | Chesapeake Lodging Trust |
| Sellers(s) | Starwood Hotels & Resorts Worldwide |
| Deal Type | Divestiture |
| Deal Value | 65M USD |
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| Category | Company |
|---|---|
| Founded | 2009 |
| Sector | Real Estate |
| Employees | 13 |
| Revenue | 597M USD (2018) |
Chesapeake Lodging Trust is a self-advised lodging real estate investment trust (REIT) focused on investments primarily in upper-upscale hotels in major business and convention markets and, on a selective basis, premium select-service hotels in urban settings or unique locations in the United States. Chesapeake Lodging Trust was founded in 2009 and is based in Annapolis, Maryland.
| DEAL STATS | # |
|---|---|
| Overall | 4 of 6 |
| Sector (Restaurants) | 4 of 4 |
| Type (Divestiture) | 4 of 4 |
| State (Louisiana) | 2 of 2 |
| Country (United States) | 4 of 6 |
| Year (2013) | 2 of 2 |
| Size (of disclosed) | 4 of 5 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2013-04-01 |
W New Orleans - French Quarter
New Orleans,, Louisiana, United States W New Orleans – French Quarter is ideally located at the heart of the city’s historic center, adjacent to Jackson Square and walking distance to boutiques, art galleries and jazz clubs. |
Buy | $26M |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2015-03-09 |
The Royal Palm
Miami, Florida, United States The Royal Palm is a 410-room beachfront hotel located in Miami Beach, Florida in the heart of South Beach, one of the most desirable lodging markets in the United States. The Hotel is ideally located on Collins Avenue between 15th and 16th Streets, within very close proximity of the most popular South Beach tourist attractions, including the Lincoln Road shopping district, historic Ocean Drive, and the Miami Beach Convention Center. The Royal Palm is managed by the Denihan Hospitality Group and is in the process of being renovated to the standards of a luxury boutique hotel. Upon completion, which is scheduled for late 2012, the hotel will be rebranded The James Royal Palm. |
Buy | $278M |
| Category | Company |
|---|---|
| Founded | 1969 |
| Sector | Leisure |
| Employees | 180,400 |
| Revenue | 5.8B USD (2015) |
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 | 9 of 21 |
| Sector (Restaurants) | 8 of 12 |
| Type (Divestiture) | 9 of 21 |
| State (Louisiana) | 2 of 2 |
| Country (United States) | 6 of 13 |
| Year (2013) | 2 of 4 |
| Size (of disclosed) | 10 of 14 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2013-04-01 |
W New Orleans - French Quarter
New Orleans,, Louisiana, United States W New Orleans – French Quarter is ideally located at the heart of the city’s historic center, adjacent to Jackson Square and walking distance to boutiques, art galleries and jazz clubs. |
Sell | $26M |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2013-10-30 |
Westin San Francisco Airport
Millbrae,, California, United States The Westin San Francisco Airport features 397 guestrooms, 22,000 square feet of meeting space, a fitness center, an indoor pool and whirlpool, a business center, and Grill & Vine restaurant. |
Sell | - |
