Warsaw Sheraton changes owner

Starwood has sold a portfolio of eight hotels, including The Sheraton hotel in Poland to Benson Elliot Capital Management LLP and Walton Street Capital, for €420 million, propertynews.pl reported. The European Commission has approved the transaction. In order to acquire the portfolio, Benson Elliot Capital Management LLP and Walton Street Capital established a joint venture Host Hotels & Resorts. Besides Poland, the estates are located in Germany, Italy, France and Belgium. Starwood owns 1200 estates in 100 countries worldwide. Most interestingly, The Wall Street Journal reported on Friday that Starwood is in merger discussions with Hyatt Hotels Corp.