Starwood Capital Group is planning to take ownership of some of its luxury hotels public via a special-purpose acquisition company called jaws mustang acquisition Corp. The combination will put 10 properties, two in New York and eight in the uk, under the same public structure, according to Starwood.
The New York properties include 1 Hotel Brooklyn Bridge and 1 Hotel Central Park, which are part of the 1 Hotel brand that Starwood created in 2015 that now has 11 operating properties and another eight under development in North America, europe and asia.
Once it is up and running, the new public company will seek…
Source: Starwood Capital Plans To Take Luxury Hotel Brands Public Via SPAC Merger