Starwood Sells Miami Resort To Qatari Co. In $213M Deal

Law360, Washington (January 22, 2014, 2:11 PM EST) -- A unit of Qatari company Al Faisal Holding Co. LLC has acquired the Miami-based St. Regis Bal Harbour Resort from hotel giant Starwood Hotels & Resorts Worldwide Inc. in a $213 million deal, the companies announced Wednesday.

According to the announcement, the resort will be owned by Al Faisal unit the Al Rayyan Tourism Investment Co., or ARTIC, a hospitality- and real estate-focused arm of the diverse parent company. A long-term deal — the details of which were not disclosed — will be put in place...
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