QATARI ACQUISITION IN ROME
Starwood Hotels & Resorts Worldwide has sold The Westin Excelsior Rome to Katara Hospitality for $251 million.
The historic hotel will be renovated in the next five years, including a top-to-bottom transformation of all guestrooms, as well as upgrades to the hotel's public areas, and continues to be operated by Starwood Hotels & Resorts under a new long-term management agreement. Sheikh Nawaf bin Jassim bin Jabor Al Thani, Chairman of Katara Hospitality, signed the agreement for the new property with Michael Wale, President - Europe, Africa, and Middle East Starwood Hotels & Resorts. The signing ceremony was held at The Westin Excelsior Rome and was attended by Hamad Abdulla Al Mulla, Chief Executive Officer of Katara Hospitality; Simon Turner, President, Global Development at Starwood Hotels & Resorts; Robert Koren, VP Regional Director Southern Europe at Starwood Hotels & Resorts; and Abdulaziz bin Ahmad Al Malki Al Jehani, Qatar's Ambassador to Italy.