Benson Elliot Capital Management LLP and Walton Street Capital are poised to take over the Sheraton Warsaw hotel. The investors recently joined forces to acquire a portfolio of eight European hotels from Starwood in Germany, Poland, Italy, France and Belgium. Starwood Hotels & Resorts Worldwide, Inc. will continue to manage and operate the properties.
In addition to the Sheraton Warsaw hotel, the portfolio also includes Westin Europa & Regina Venice, Westin Palace Milan, Sheraton Roma and Le Meridien Grand Hotel Nuremberg.
Set up in 2005, Benson Elliot targets investments between €30m and €300m. The recent Starwood deal is in line with the British investor’s strategy to expand outside Western Europe. Walton Street has invested more than $7.5bn within the global real estate sector since 1984. Starwood’s portfolio includes nearly 1,200 hotels in 100 countries.
