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Starwood Capital Picks Itself Some Golden Tulips

Golden Tulip Avegoor, Netherlands

Starwood Capital seems to be cultivating a garden of sorts. A garden full of tulips, if you will. Golden tulips, even.

According to Private Equity Real Estate:

Starwood Capital has entered into exclusive talks to buy the Swiss hospitality group Golden Tulip creating one of the world’s largest hotel companies.

The Greenwich, Connecticut-based private equity real estate firm said in a statement it was planning to merge its budget hotel company, Louvre Hotels, with Golden Tulip once the deal was closed on 26 June.

Whatchya gon' do with all them tulips, Starwood Cap? Apparently, the alliance with Louvre is going to "create a hospitality company with 1,070 hotels in more than 40 countries and comprising around 82,000 rooms" that will be better positioned to target corporate accounts.

Oh, if you're not familiar with the Golden Tulip brand: there's only one of 'em in the US, in Bethesda, MD.