Starwood Hotels Sells Leasehold Interest In Park Lane Hotel, London

(RTTNews) - Starwood Hotels & Resorts Worldwide, Inc. (HOT) said it has sold its leasehold interest in The Park Lane Hotel, London to Sir Richard Sutton's Settled Estates or SRSSE.

Starwood will continue to operate the hotel under a new long-term management contract under the Sheraton brand flag.

Situated in Mayfair at the heart of London, the hotel faces Green Park and is walking distance to Buckingham Palace, the boutiques on Bond Street, and London's West End theaters.

The 303 room hotel features two restaurants, including afternoon tea at the Palm Court, and 16,700 square feet of meeting space for business meetings and social functions.