Sheraton Krakow hotel sold to Quinn Group

10 August 2006
Sheraton Krakow hotel sold to Quinn Group

Irish-based insurance, property and leisure group, Quinn has bought the Sheraton Hotel Krakow from Starwood Hotels & Resorts for €45m (£30.4m).

The 232-bedroom Polish hotel, which opened in 2004 will continue to be run by Starwood under the Sheraton brand.

The property has so far outperformed the local hotel market in occupancy and rates and is expected to continue to improve these levels.

The Quinn Group already has existing properties in Czech Republic, Bulgaria, Ireland and the UK, including the well known golf resort and Ryder Cup venue The Belfry, in Sutton Coldfield, West Midlands.

The deal was managed by property agents Molinaro Koger.

Starwood second quarter results >>

Quinn buys the Belfry >>

Starwood hotels website >>

Molinaro Koger sale of Great Eastern Hotel >>

By Emily Manson

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