Starwood Capital Reorganizes UK Hotel Group Under the New Principal Brand
Skift Take
Investment firm Starwood Capital Group is bringing together all of its UK city-center hotels under the name Principal.
The three initial properties in Edinburgh, York, and Manchester will be joined by others in the portfolio during the course of 2017.
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The move is part of a wider reorganisation of the company’s UK assets. Starwood’s UK business will now be known as The Principal Hotel Company with Principal used for city locations and De Vere for everything else.
Over the past few years Starwood Capital has been gradually building up its presence in the UK. In 2013 it acquired Principal Hayley through an affiliate and more recently it has taken control of De Vere Venues, Four Pillars, the Townhouse Collection and other individual assets.
The man behind Starwood Capital, real estate mogul Barry Sternlicht, also founded Starwood Hotels and Resorts in 1995, where he served as chairman and CEO until 2005.
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