Starwood Capital Pays £232M For UK's De Vere Venues

Law360, New York (March 11, 2014, 2:31 PM EDT) -- An affiliate of U.S. real estate investment firm Starwood Capital Group has acquired U.K. hotel and conference center operator De Vere Venues from hotel company De Vere Group for approximately £232 million ($386 million), Starwood Capital said Tuesday.

Under the transaction, Starwood Capital snags 23 owned and leased hotels comprising 2,433 rooms, 374 meeting rooms and 414,000 square feet of meeting space, most of which are located in Greater London. The portfolio also includes nine management and franchise contracts, Greenwich, Conn.-based Starwood said.

"We are very...
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