Heuston Hospitality has acquired Malta’s landmark hotel, The Phoenicia, from Starwood Hotels and Resorts. Peter Stephenson, CEO of Heuston Hospitality, has already announced plans for substantial investment in the property.

Upon completion of the deal Mr Stephenson said: “The Phoenicia is an ideal destination hotel for the fast growing luxury leisure and groups market. Our plans include substantial investment in the hotel team as well as in the fabric of the building.”

He went on to say: “Looking forward, our long term development plans include a refurbishment of bedrooms, restaurants and conference facilities as well as the creation of a luxury spa and the addition of new bedrooms.”

Prior to acquisition, the leading commercial real estate advisers, CB Richard Ellis Hotels, were appointed by Heuston to provide valuation services.

The Phoenicia complements Heuston Hospitality’s portfolio of highly individual hotels and resorts, which focus on character and personal service and include the luxury ski resort Pragelato Village Resort and Spa in the Italians Alps and the prestigious Oakley Court Hotel on the banks of the River Thames in Windsor.

New developments in Heuston Hospitality’s portfolio include a multi purpose complex in the heart of Tuscany with three hotels, a spa and a range of luxury villas, as well as 5-star hotel and resort developments in Turks and Caicos and Belize.