Asset-light strategy leads Starwood to second hotel sale in a week

Starwood Hotels and Resorts Worldwide has completed the sale of W Los Angeles - Westwood for £79m

W Los Angeles sold for £79m
W Los Angeles sold for £79m

The sale follows the hotel group’s disposal of its W Chicago – Lakeshore on 22 August for £80m.

The 258-room W Los Angeles – Westwood has been sold to Pebblebrook Hotel Trust for $125m (£79m).

As part of the sale, Pebblebrook has agreed to continue with planned property renovations and expand the hotel's Living Room, bar and public spaces.

Starwood has entered into a 40-year management agreement to continue operating the hotel under the W flag, as at the W Chicago - Lakeshore.

The group’s president of global development Simon Turner said: "We continue to pursue opportunities to sell our owned real estate at the right time to the right owners in the best interest of shareholders."

"We already have a great working relationship with Pebblebrook Hotel Trust on The Westin Gaslamp Quarter, San Diego, W Boston and Sheraton Delfina Santa Monica, and are pleased to expand our partnership with this iconic property."

W Los Angeles - Westwood is at the foothills of Beverly Hills/Bel Air and has a spa, fitness centre and six meeting rooms, the largest of which is 143sqm.

Its Whiskey Blue room can accommodate 350 for a reception, while the outdoor pool deck can host up to 450.


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