September 22, 2011: Starman Hotels has consolidated its existing leasehold interest in Le Meridien Bristol Hotel Warsaw by acquiring ownership of the building from Orbis S.A.
The 206-room landmark hotel dates back to 1901 and was re-opened after reconstruction by Forte in 1992. Starman's acquisition is of the Perpetual Usufruct title owned by Orbis, and following the purchase they will now embark on a renovation of the hotel. Starwood Hotels & Resorts operates the hotel under a management agreement with Starman.
Edward Nixon, Finance Director of Starman, commented "this is a value-accretive purchase for Starman and we look forward to working with our partners to further cement the hotel's pre-eminent position in Warsaw".
HVS Hodges Ward Elliott advised Starman on the acquisition.
HVS Hodges Ward Elliott
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