Starwood Hotels completes sale of W Los Angeles - Westwood
- Category: Hotel
- Created on Friday, 24 August 2012 10:38
Hotel will continue to be managed by Starwood under the W flagStarwood Hotels & Resorts Worldwide, Inc. have announced that it has completed the sale of W Los Angeles - Westwood to Pebblebrook Hotel Trust for $125 million. As part of the sale, Pebblebrook has agreed to continue with the planned property renovations to expand and re-define 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.
"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," said Simon Turner, President of Global Development for
Starwood. "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."
"We're thrilled to again be partnering with Starwood at W Los Angeles - Westwood. We look forward to future success together as we continue to improve this high-quality hotel," said Jon Bortz, Chairman and Chief Executive Officer of Pebblebrook Hotel Trust.
W Los Angeles - Westwood located at 930 Hilgard Avenue, is a full-service, luxury property with 258 modern, spacious suites; a SWEAT state-of-the-art fitness center; a 7,000 square foot Bliss® Spa; The Backyard restaurant and WET, a heated outdoor pool; and the acclaimed NineThirty restaurant. The hotel, across from UCLA and near the entertainment and vibrancy of Sunset Strip, sits at the foothills of Beverly Hills/Bel Air and is minutes from Santa Monica's beaches. The hotel offers the perfect escape from the sprawling city and is the ultimate Los Angeles hideaway.