November 14, 2005
Host Marriott Corporation announces agreement to acquire 38 luxury hotels from Starwood Hotels and Resorts for approximately $4.04 billion.
On November 14, Host Marriott Corporation announced that it has signed a definitive merger agreement to acquire 38 luxury hotels from Starwood Hotels and Resorts for approximately $4.04 billion. Willkie represented Goldman Sachs Credit Partners, L.P. which, together with Deutsche Bank Cayman Islands Branch, provided a $1.67 billion financing commitment. The portfolio to be acquired consists of 25 domestic and 13 international properties and a total of 18,964 rooms managed under the Westin®, Sheraton®, W Hotels®, The Luxury Collection® and St. Regis® brands. The deal was handled by partner William Hiller, and associates Jeffrey Goldfarb, Matthew Rizzo and Joseph Cunningham.