• Starwood sells Park Lane leasehold

Starwood Hotels & Resorts has sold its leasehold interest in The Park Lane Hotel, London to Sir Richard Sutton’s Settled Estates for an undisclosed fee.

Starwood will continue to operate the hotel under a new long-term management contract under the Sheraton brand flag. “Sir Richard Sutton’s Settled Estates shares Starwood’s vision for The Park Lane Hotel to be a brand-enhancing property, and we look forward to collaborating together on the future success of this iconic hotel, which will undergo a full renovation beginning this Fall,” said Michael Wale, president, Europe, Africa and the Middle East.

Read the full story here: http://www.starwoodhotels.com/corporate/about/investor/index.html

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