Starwood Capital Group buys Four Pillars Hotels

17 January 2014 by
Starwood Capital Group buys Four Pillars Hotels

Starwood Capital Group has snapped up UK hotel owner and operator Four Pillars Hotels in a deal believed to be in the region of £90m.

Integrated investment bank Canaccord Genuity advised HSBC, AIB and Bank of Ireland on the acquisition of debt from private equity firm JER, which had bought Four Pillars for £120m in 2007.

Included in the transaction is a portfolio of five owned and leased hotels and one managed hotel in Oxfordshire and the surrounding areas, comprising 863 bedrooms.

These properties are:

• Cotswold Water Park, 328-room modern hotel in the Cotswolds
• Tortworth Court, 190-room, Grade II-listed Victorian mansion hotel surrounded by 30 acres of parkland, South Gloucestershire
• Oxford Spires, 174-room hotel half-mile from Oxford's city centre
• Oxford Thames, 84-room recently expanded country hotel three miles from Oxford
• Oxford Witney, 87-room contemporary hotel near Witney
• Oxford Abingdon, 66-room hotel managed by Four Pillars in Abingdon-on-Thames

Kevin Colket, senior vice president at Starwood Capital Group, commented: "Four Pillars offers high-quality, full-service, four-star hotels in superb locations. We look forward to building on the company's operational excellence and its longstanding client focus."

Starwood acquired hotel firm Principal Hayley Group for an undisclosed sum last February. The private investment firm is also considered to be the likely buyer of De Vere Golf and Urban Village Resorts, as the De Vere Group looks to offload two of its core businesses in a bid to offset its original £1.1b debt with the Lloyds Banking Group.

Chief executive of De Vere Group confirms impending sale of core businesses >>

Starwood buys Principal Hayley Group for undisclosed sum >>

The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Check mark icon
Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!

Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.


Ad Blocker detected

We have noticed you are using an adblocker and – although we support freedom of choice – we would like to ask you to enable ads on our site. They are an important revenue source which supports free access of our website's content, especially during the COVID-19 crisis.

trade tracker pixel tracking