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Qatar Said in Talks for St. Regis NYC, San Francisco Hotels

  • Luxury properties are both owned by Starwood Hotels & Resorts
  • Starwood selling real estate, preparing for buyout by Marriott
Updated on

The Qatar Investment Authority is in advanced talks to buy the luxury St. Regis hotels in New York and San Francisco from Starwood Hotels & Resorts Worldwide Inc., according to people with knowledge of the discussions.

The properties may be worth as much as $1 billion, though they could sell for less, said the people, who asked not to be identified because the talks are private. The St. Regis New York, a Beaux Arts landmark on 55th Street off Fifth Avenue, has 238 rooms. The California property, across the street from the San Francisco Museum of Modern Art, has 260 rooms.