Starwood Sells St Regis Bal Harbour Resort to Al Rayyan Tourism Investment Company for $213M
Starwood Hotels & Resorts Worldwide (NYSE: HOT) and Al Rayyan
Tourism Investment Company (”ARTIC”), the international hospitality
subsidiary of Al Faisal Holding Company, one of Qatar's largest private
diversified industry groups, today announced that ARTIC has acquired The
St. Regis Bal Harbour Resort in Miami, Florida for $213 million. The
property will continue to be managed under a long-term agreement by
Starwood Hotels and also continue to fly the St. Regis flag.