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Starwood Acquires Golden Tulip
Golden Tulip Hospitality BV, the Swiss hotel company that filed for Chapter 11 bankruptcy protection this year , was acquired by Starwood Capital Group. Starwood intends to grow the Golden Tulip brand by creating a strategic alliance with Louvre Hotels, which has a comparable price point. The brands' combined holdings total about 1,000 hotels across 40 countries, comprising approximately 82,000 hotel rooms.