• Resources
  • Blog
  • Journalists
  • Log In
  • Sign Up
  • Data Privacy
  • Send a Release
Cision PR Newswire: news distribution, targeting and monitoring home
  • News
  • Products
  • Contact

 

When typing in this field, a list of search results will appear and be automatically updated as you type.

Searching for your content...

No results found. Please change your search terms and try again.
  • News in Focus
      • Browse News Releases

      • All News Releases
      • All Public Company
      • English-only
      • News Releases Overview

      • Multimedia Gallery

      • All Multimedia
      • All Photos
      • All Videos
      • Multimedia Gallery Overview

      • Trending Topics

      • All Trending Topics
  • Business & Money
      • Auto & Transportation

      • All Automotive & Transportation
      • Aerospace, Defense
      • Air Freight
      • Airlines & Aviation
      • Automotive
      • Maritime & Shipbuilding
      • Railroads and Intermodal Transportation
      • Supply Chain/Logistics
      • Transportation, Trucking & Railroad
      • Travel
      • Trucking and Road Transportation
      • Auto & Transportation Overview

      • View All Auto & Transportation

      • Business Technology

      • All Business Technology
      • Blockchain
      • Broadcast Tech
      • Computer & Electronics
      • Computer Hardware
      • Computer Software
      • Data Analytics
      • Electronic Commerce
      • Electronic Components
      • Electronic Design Automation
      • Financial Technology
      • High Tech Security
      • Internet Technology
      • Nanotechnology
      • Networks
      • Peripherals
      • Semiconductors
      • Business Technology Overview

      • View All Business Technology

      • Entertain­ment & Media

      • All Entertain­ment & Media
      • Advertising
      • Art
      • Books
      • Entertainment
      • Film and Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • Entertain­ment & Media Overview

      • View All Entertain­ment & Media

      • Financial Services & Investing

      • All Financial Services & Investing
      • Accounting News & Issues
      • Acquisitions, Mergers and Takeovers
      • Banking & Financial Services
      • Bankruptcy
      • Bond & Stock Ratings
      • Conference Call Announcements
      • Contracts
      • Cryptocurrency
      • Dividends
      • Earnings
      • Earnings Forecasts & Projections
      • Financing Agreements
      • Insurance
      • Investments Opinions
      • Joint Ventures
      • Mutual Funds
      • Private Placement
      • Real Estate
      • Restructuring & Recapitalization
      • Sales Reports
      • Shareholder Activism
      • Shareholder Meetings
      • Stock Offering
      • Stock Split
      • Venture Capital
      • Financial Services & Investing Overview

      • View All Financial Services & Investing

      • General Business

      • All General Business
      • Awards
      • Commercial Real Estate
      • Corporate Expansion
      • Earnings
      • Environmental, Social and Governance (ESG)
      • Human Resource & Workforce Management
      • Licensing
      • New Products & Services
      • Obituaries
      • Outsourcing Businesses
      • Overseas Real Estate (non-US)
      • Personnel Announcements
      • Real Estate Transactions
      • Residential Real Estate
      • Small Business Services
      • Socially Responsible Investing
      • Surveys, Polls and Research
      • Trade Show News
      • General Business Overview

      • View All General Business

  • Science & Tech
      • Consumer Technology

      • All Consumer Technology
      • Artificial Intelligence
      • Blockchain
      • Cloud Computing/Internet of Things
      • Computer Electronics
      • Computer Hardware
      • Computer Software
      • Consumer Electronics
      • Cryptocurrency
      • Data Analytics
      • Electronic Commerce
      • Electronic Gaming
      • Financial Technology
      • Mobile Entertainment
      • Multimedia & Internet
      • Peripherals
      • Social Media
      • STEM (Science, Tech, Engineering, Math)
      • Supply Chain/Logistics
      • Wireless Communications
      • Consumer Technology Overview

      • View All Consumer Technology

      • Energy & Natural Resources

      • All Energy
      • Alternative Energies
      • Chemical
      • Electrical Utilities
      • Gas
      • General Manufacturing
      • Mining
      • Mining & Metals
      • Oil & Energy
      • Oil and Gas Discoveries
      • Utilities
      • Water Utilities
      • Energy & Natural Resources Overview

      • View All Energy & Natural Resources

      • Environ­ment

      • All Environ­ment
      • Conservation & Recycling
      • Environmental Issues
      • Environmental Policy
      • Environmental Products & Services
      • Green Technology
      • Natural Disasters
      • Environ­ment Overview

      • View All Environ­ment

      • Heavy Industry & Manufacturing

      • All Heavy Industry & Manufacturing
      • Aerospace & Defense
      • Agriculture
      • Chemical
      • Construction & Building
      • General Manufacturing
      • HVAC (Heating, Ventilation and Air-Conditioning)
      • Machinery
      • Machine Tools, Metalworking and Metallurgy
      • Mining
      • Mining & Metals
      • Paper, Forest Products & Containers
      • Precious Metals
      • Textiles
      • Tobacco
      • Heavy Industry & Manufacturing Overview

      • View All Heavy Industry & Manufacturing

      • Telecomm­unications

      • All Telecomm­unications
      • Carriers and Services
      • Mobile Entertainment
      • Networks
      • Peripherals
      • Telecommunications Equipment
      • Telecommunications Industry
      • VoIP (Voice over Internet Protocol)
      • Wireless Communications
      • Telecomm­unications Overview

      • View All Telecomm­unications

  • Lifestyle & Health
      • Consumer Products & Retail

      • All Consumer Products & Retail
      • Animals & Pets
      • Beers, Wines and Spirits
      • Beverages
      • Bridal Services
      • Cannabis
      • Cosmetics and Personal Care
      • Fashion
      • Food & Beverages
      • Furniture and Furnishings
      • Home Improvement
      • Household, Consumer & Cosmetics
      • Household Products
      • Jewelry
      • Non-Alcoholic Beverages
      • Office Products
      • Organic Food
      • Product Recalls
      • Restaurants
      • Retail
      • Supermarkets
      • Toys
      • Consumer Products & Retail Overview

      • View All Consumer Products & Retail

      • Entertain­ment & Media

      • All Entertain­ment & Media
      • Advertising
      • Art
      • Books
      • Entertainment
      • Film and Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • Entertain­ment & Media Overview

      • View All Entertain­ment & Media

      • Health

      • All Health
      • Biometrics
      • Biotechnology
      • Clinical Trials & Medical Discoveries
      • Dentistry
      • FDA Approval
      • Fitness/Wellness
      • Health Care & Hospitals
      • Health Insurance
      • Infection Control
      • International Medical Approval
      • Medical Equipment
      • Medical Pharmaceuticals
      • Mental Health
      • Pharmaceuticals
      • Supplementary Medicine
      • Health Overview

      • View All Health

      • Sports

      • All Sports
      • General Sports
      • Outdoors, Camping & Hiking
      • Sporting Events
      • Sports Equipment & Accessories
      • Sports Overview

      • View All Sports

      • Travel

      • All Travel
      • Amusement Parks and Tourist Attractions
      • Gambling & Casinos
      • Hotels and Resorts
      • Leisure & Tourism
      • Outdoors, Camping & Hiking
      • Passenger Aviation
      • Travel Industry
      • Travel Overview

      • View All Travel

  • Policy & Public Interest
      • Policy & Public Interest

      • All Policy & Public Interest
      • Advocacy Group Opinion
      • Animal Welfare
      • Congressional & Presidential Campaigns
      • Corporate Social Responsibility
      • Domestic Policy
      • Economic News, Trends, Analysis
      • Education
      • Environmental
      • European Government
      • FDA Approval
      • Federal and State Legislation
      • Federal Executive Branch & Agency
      • Foreign Policy & International Affairs
      • Homeland Security
      • Labor & Union
      • Legal Issues
      • Natural Disasters
      • Not For Profit
      • Patent Law
      • Public Safety
      • Trade Policy
      • U.S. State Policy
      • Policy & Public Interest Overview

      • View All Policy & Public Interest

  • People & Culture
      • People & Culture

      • All People & Culture
      • Aboriginal, First Nations & Native American
      • African American
      • Asian American
      • Children
      • Diversity, Equity & Inclusion
      • Hispanic
      • Lesbian, Gay & Bisexual
      • Men's Interest
      • People with Disabilities
      • Religion
      • Senior Citizens
      • Veterans
      • Women
      • People & Culture Overview

      • View All People & Culture

      • In-Language News

      • Arabic
      • español
      • português
      • Česko
      • Danmark
      • Deutschland
      • España
      • France
      • Italia
      • Nederland
      • Norge
      • Polska
      • Portugal
      • Россия
      • Slovensko
      • Suomi
      • Sverige
  • Overview
  • Distribution by PR Newswire
  • Cision Communications Cloud®
  • Cision IR
  • Sponsored Placement
  • All Products
  • General Inquiries
  • Request a Demo
  • Editorial Bureaus
  • Partnerships
  • Media Inquiries
  • Worldwide Offices
  • PR Newswire: news distribution, targeting and monitoring
  • Send a Release
    • ALL CONTACT INFO
    • Contact Us

      888-776-0942
      from 8 AM - 10 PM ET

  • Send a Release
  • Sign Up
  • Log In
  • Resources
  • Blog
  • Journalists
  • RSS
  • GDPR
  • News in Focus
    • Browse All News
    • Multimedia Gallery
    • Trending Topics
  • Business & Money
    • Auto & Transportation
    • Business Technology
    • Entertain­ment & Media
    • Financial Services & Investing
    • General Business
  • Science & Tech
    • Consumer Technology
    • Energy & Natural Resources
    • Environ­ment
    • Heavy Industry & Manufacturing
    • Telecomm­unications
  • Lifestyle & Health
    • Consumer Products & Retail
    • Entertain­ment & Media
    • Health
    • Sports
    • Travel
  • Policy & Public Interest
  • People & Culture
    • People & Culture
  • Send a Release
  • Sign Up
  • Log In
  • Resources
  • Blog
  • Journalists
  • RSS
  • GDPR
  • Overview
  • Distribution by PR Newswire
  • Cision Communications Cloud®
  • Cision IR
  • All Products
  • Send a Release
  • Sign Up
  • Log In
  • Resources
  • Blog
  • Journalists
  • RSS
  • GDPR
  • General Inquiries
  • Request a Demo
  • Editorial Bureaus
  • Partnerships
  • Media Inquiries
  • Worldwide Offices
  • Send a Release
  • Sign Up
  • Log In
  • Resources
  • Blog
  • Journalists
  • RSS
  • GDPR

Starwood Capital Group completes the sale of Groupe du Louvre and Louvre Hotels Group to Shanghai Jin Jiang International Hotels Development Co., Ltd.


News provided by

Starwood Capital Group

Mar 01, 2015, 12:10 ET

Share this article

Share this article


PARIS and SHANGHAI, March 1, 2015 /PRNewswire/ -- Starwood Capital Group and Jin Jiang International Holdings Co., Ltd. are pleased to confirm that the sale of Groupe du Louvre and its 100% indirect subsidiary Louvre Hotels Group has been completed. Through Starwood affiliate Star SDL Investment Co., Groupe du Louvre was sold to the  Luxemburg-based subsidiary of Shanghai Jin Jiang International Hotels Development Co., Ltd., for an amount of €1.3 billion.

"The sale of Groupe du Louvre to our valued partners at Jin Jiang completes a remarkable performance by our investment vehicle in France," said Barry Sternlicht, Chairman and CEO of Starwood Capital Group. "Under the leadership of Steven Goldman, CEO of Groupe du Louvre since 2010, we provided a strong return to our investors from the assets despite operating in a challenging economic environment. I would like to thank Steve and the rest of the Starwood team in Paris for their tireless and effective management on behalf our limited partners."  

As a leading select service hotel group in China, Shanghai Jin Jiang International Hotels Development Co. Ltd., of which Jin Jiang International Holdings is the single largest shareholder, owns and operates 1,215 economy and mid-scale hotels (over 140,000 rooms) in Asia. Louvre Hotels Group is the second-largest hotel group in Europe, with a network of more than 1,100 hotels (more than 90,000 rooms) in more than 40 countries worldwide.

Built on the success of the co-branding alliance since 2011, the merger between Louvre Hotels Group and Shanghai Jin Jiang International Hotels Development Co., Ltd. will boost hotel tourism between France and China, and the international development of selected brands for both parties.

About Starwood Capital Group

Starwood Capital Group is a private investment firm with more than 500 employees, with a core focus on global real estate and energy infrastructure. Headquartered in Greenwich, CT, the Firm maintains twelve offices in six countries around the world. Starwood Capital Group has raised more than $30 billion of equity capital since its inception in 1991, and currently manages over $42 billion in assets. The Firm has invested in virtually every class of real estate on a global basis, opportunistically shifting asset classes, geographies and positions in the capital stack as it perceives risk-reward dynamics evolve. For more than two decades, Starwood Capital Group and its affiliates have successfully executed an investment strategy that involves building enterprises around real estate portfolios in both the private and public markets. Starwood may perhaps be best known, for founding, creating and building Starwood Hotels and Resorts beginning in 1995. Additional information can be found at starwoodcapital.com.

About Louvre Hotels Group

Louvre Hotels Group, based in Paris France was established in 1976 and since 2005 owned by Starwood Capital Group from the USA. In July 2009, Louvre Hotels joined forces with the Golden Tulip Hospitality Group, and currently ranks in the position of the 14th largest hotel group worldwide by number of hotels. Louvre Hotels Group operates seven clearly differentiated hotel brands: Premiere Classe, Campanile, Kyriad, Tulip Inn, Golden Tulip,and Royal Tulip. Thanks to its expansion plans in growth markets, as well as markets in which the group already has a strong presence (France, Europe, North Africa, Brazil and India), Louvre Hotels Group is a key player in the international hotel industry. It now counts more than 1,100 hotels, representing a total capacity of over 90,000 rooms in more than 40 countries. Additional Information can be found at www.louvrehotels.com/fr.

About Shanghai Jin Jiang International Hotels Development Co., Ltd.

Shanghai Jin Jiang International Hotels Development Co., Ltd. (A share: 600754; B Share: 900934) was listed in Shanghai Stock Exchange on December, 1994. Its core business includes select service hotel operation and management and food & catering services. As the single largest shareholder, Jin Jiang International Holdings Co., Ltd. owns over 37% of the total shares.

The select service hotel business owns four brands: Jin Jiang Metropolo, Jin Jiang Inn, Goldmet Inn and Bestay. As of the end of 2014, it owns, manages and franchises 1215 hotels (over 140,000 rooms) in 295 cities of China and 1 city overseas. Members of its loyalty program are over 14 million. The food and catering business ranges from group catering services to fast-food chain operation to fusion restaurants. Additional Information can be found at www.jinjianghotels.sh.cn.

About Jin Jiang International Holdings Co., Ltd.

Headquartered in Shanghai, Jin Jiang International Holdings Co., Ltd. is one of the largest hospitality and travel conglomerates in China. Its core business includes hotel operation and investment, travel services, transport and logistics. Jin Jiang International Hotels Co., Ltd, a controlling subsidiary of Jin Jiang International Holdings, owns and operates over 1,700 hotels and 250,000 rooms in 11 countries of Asia, Europe and America. It ranks among the global Top 10 Hotel Groups. It has a full-spectrum brand portfolio: J, Jin Jiang, Kunlun, Jin Jiang Metropolo, Jin Jiang Inn, Goldmet Inn, Bestay.  Additional Information can be found at www.jinjiang.com

SOURCE Starwood Capital Group

Related Links

http://starwoodcapital.com

Modal title

Also from this source

Starwood Capital Group Launches Starwood Impact Investors

Starwood Capital Group Launches Starwood Impact Investors


Mehrheitsaktionärin der CA Immobilien Anlagen AG gibt Änderungen im  Aufsichtsrat bekannt

Mehrheitsaktionärin der CA Immobilien Anlagen AG gibt Änderungen im Aufsichtsrat bekannt

Explore

More news releases in similar topics

  • Banking & Financial Services
  • Travel
  • Hotels and Resorts
  • Leisure & Tourism

Contact Cision

  • Cision Distribution 888-776-0942
    from 8 AM - 9 PM ET

  • Chat with an Expert
  • General Inquiries
  • Request a Demo
  • Editorial Bureaus
  • Partnerships
  • Media Inquiries
  • Worldwide Offices

Products

  • Cision Communication Cloud®
  • For Marketers
  • For Public Relations
  • For IR & Compliance
  • For Agency
  • For Small Business
  • All Products

About

  • About PR Newswire
  • About Cision
  • Become a Publishing Partner
  • Become a Channel Partner
  • Careers
  • COVID-19 Resources
  • Accessibility Statement
  • Asia
  • Brazil
  • Canada
  • Czech
  • Denmark
  • Finland
  • France
  • Germany
  • India
  • Israel
  • Italy
  • Mexico
  • Middle East
  • Middle East - Arabic
  • Netherlands
  • Norway
  • Poland
  • Portugal
  • Russia
  • Slovakia
  • Spain
  • Sweden
  • United Kingdom

My Services

  • All New Releases
  • Online Member Center
  • ProfNet

Contact Cision

Products

About

My Services
  • All News Releases
  • Online Member Center
  • ProfNet
Cision Distribution Helpline
888-776-0942
  • Terms of Use
  • Privacy Policy
  • Information Security Policy
  • Site Map
  • RSS
  • Cookie Settings
Copyright © 2023 Cision US Inc.