London, Paris, Rotterdam, July 3rd 2009 – Starwood Capital Group Global L.P. (“STARWOOD”) is pleased to announce the signature of a binding agreement for an affiliate to purchase Golden Tulip Hospitality BV?s Franchise business, its Development & Representation businesses, Joint Venture interests, and the brands, trademarks and intellectual property of Golden Tulip, Tulip Inn and its related brands. This binding agreement is subject to certain formalities being completed and is expected to result in a full closing of the transaction by July 27 2009.
Source: Golden Tulip Hospitality News