Starwood offloads Venice hotel for 177m euros
Starwood Hotels & Resorts Worldwide has sold the 233-room Hotel Danieli in Venice to Italian real estate company Statuto Group for 177m euros (£121m, US$222m).
Starwood will continue to manage the hotel on a long-term contract.
The sale is part of Starwood’s plans to offload properties worth around US$500m (£274m, 399m euros) by the end of the summer 2005.
Starwood operates four other hotels in Venice, including the Hotel Gritti Palace and the Westin Excelsior.
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