Starwood has sold two of its hotels—W New York – the Court and W New York – the Tuscany—for $78 million to London-based St. Giles Hotels. The two properties, which opened in 1999, will no longer be affiliated with the brand. "In the vast majority of cases, when we sell an asset, we will continue to manage the property on a long-term basis," says Simon Turner, Starwood’s president of global development. "However, in the case of [these two hotels], given that we have a significant, high-profile, and growing footprint in New York City combined with the evolution of the W brand, we made the decision to sell these legacy hotels without the W flag."
Starwood Sells Two W Hotels in New York
Purchased by St. Giles Hotels for $78 million, the properties will no longer be affiliated with the brand.
Starwood Sells Two W Hotels in New York
Purchased by St. Giles Hotels for $78 million, the properties will no longer be affiliated with the brand.
