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January 5, 2011

Area Property to Acquire Sheraton Safari Hotel

Area Property Partners and Winston Harton Holdings will acquire the Sheraton Safari Hotel and Suites on Lake Buena Vista Drive in Orlando, US, from an unnamed seller for an undisclosed price. The transaction is expected to be completed during the first half of 2012. Followin

By cms admin

Area Property Partners and Winston Harton Holdings will acquire the Sheraton Safari Hotel and Suites on Lake Buena Vista Drive in Orlando, US, from an unnamed seller for an undisclosed price.

The transaction is expected to be completed during the first half of 2012.

Following the purchase, the new owners will carry out a $25m renovation of the property, which will add a pool, a conference centre, 489 guestrooms and family suites, a fitness centre, a restaurant and lounge and all public spaces.

The redeveloped property is part of Starwood Hotels & Resorts’ $6bn revitalisation campaign to attract both business and leisure guests.

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