Schörghuber Group has dissolved Arabella Starwood Hotels & Resorts, its joint venture with Starwood Hotels & Resorts.
Starwood will continue to manage Arabella’s 43 hotels in Germany, Spain and Switzerland. The company took the decision to limit its portfolio to its owned hotel properties after changes in International Financial Reporting Standards. As a result Wolfgang M. Neumann, CEO and president of the Arabella Hospitality Group, has stepped down.
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