M&A Deal Summary

Nozul Hotels & Resorts Acquires The Gritti Palace

On May 12, 2015, Nozul Hotels & Resorts acquired leisure company The Gritti Palace from Starwood Hotels & Resorts Worldwide for 105M EUR

Acquisition Highlights
  • This is Nozul Hotels & Resorts’ 1st transaction in the Leisure sector.
  • This is Nozul Hotels & Resorts’ 0th largest (disclosed) transaction.
  • This is Nozul Hotels & Resorts’ 1st transaction in Italy.

M&A Deal Summary
Date 2015-05-12
Target The Gritti Palace
Sector Leisure
Buyer(s) Nozul Hotels & Resorts
Sellers(s) Starwood Hotels & Resorts Worldwide
Deal Type Divestiture
Deal Value 105M EUR

Target

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.

Search 201,429 Deals Now

SEARCH BY

  • Buyer Type (PE or Strategic)
  • Deal Size ($10M to $10B+)
  • Sector (60 Sectors)
  • Deal Type
  • Geography
  • & More

Try For Free 7-Day Free Trial

Buyer(S) 1

Buyer

Nozul Hotels & Resorts

Qatar
Category Company
Sector Real Estate
DESCRIPTION

Nozul Hotels & Resorts engages in real estate development and hotels.

DEAL STATS #
Overall 1 of 1
Sector (Leisure) 1 of 1
Type (Divestiture) 1 of 1
Country (Italy) 1 of 1
Year (2015) 1 of 1

Seller(S) 1

SELLER

Starwood Hotels & Resorts Worldwide

Stamford, Connecticut, United States
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 18 of 21
Sector (Leisure) 7 of 9
Type (Divestiture) 18 of 21
Country (Italy) 4 of 4
Year (2015) 1 of 4
Size (of disclosed) 7 of 14
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-12-22 Philadelphia Airport Complex

United States

Philadelphia Airport Complex consists of three Starwood properties including the 252-room Sheraton Suites Philadelphia Airport, the 177-room Four Points by Sheraton Philadelphia Airport and the 136-room Aloft Philadelphia Airport.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-06-08 The Phoenician

Scottsdale,, Arizona, United States

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.

Sell $400M
Mergr

Product

Company

Legal