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The Luxury Collection Hotels & Resorts Invests Additional 300 Million Euro To Restore Iconic Hotels In Europe And The Middle East

Stocks in this article: HOT

On the heels of Starwood Hotels & Resorts Worldwide, Inc. (NYSE:HOT) and its partners investing more than 150 million euro to restore four of Europe’s most iconic hotels under The Luxury Collection, the company will continue its commitment to the brand’s portfolio with restorations planned for hotels in Europe and the Middle East this year. The additional investment of over 300 million euro includes the restoration of Hotel Imperial in Vienna, Austria; Excelsior Hotel Gallia in Milan, Italy; Santa Marina resort in Mykonos, Greece; and Grand Hills in Broumana, Lebanon.

In the past twenty four months, Starwood and its partners have restored and reopened The Gritti Palace in Venice, Prince de Galles in Paris, Hotel Alfonso XIII in Seville and Hotel Maria Cristina in San Sebastian. Additionally, The Luxury Collection unveiled restored public spaces and enhanced guest accommodations in historic hotels, including Hotel Bristol in Vienna and Hotel Danieli in Venice, introduced new villas to Hotel Pitrizza and Hotel Romazzino at Costa Smeralda in Sardinia and completed the redesign of The Park Tower Knightsbridge in time for its 40th anniversary last July.

“Together with our owner partners, we continue to make significant investments to some of our most storied Luxury Collection hotels in Europe and the Middle East,” commented Michael Wale, President, Starwood Hotels & Resorts, Europe, Africa and Middle East. “These restorations reinforce our commitment to providing global explorers the opportunity to discover incredible destinations with the exceptional service and authentic experiences they have come to expect from The Luxury Collection.”

“As The Luxury Collection portfolio continues to grow globally, it is equally important that we invest in and celebrate the heritage of the brand and its most iconic hotels,” said Paul James, Global Brand Leader, The Luxury Collection, St. Regis Hotels & Resorts and W Hotels Worldwide. “With an eye on what today’s luxury travellers are looking for, we continue working with renowned architects and local artisans to preserve the personality of these beloved hotels, while reviving them for a generation who is younger, more diverse and more connected than ever before.”

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