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Starwood Capital Entities Sign Letter of Intent to Create a Publicly-Listed, Growth Oriented Hospitality Company

Investment entities affiliated with Starwood Capital Group (collectively, the Starwood Capital Entities ) that own interests in a portfolio of hotels (the Initial Portfolio ) comprised of the 1 Hotels properties in Manhattan and Brooklyn, and the De Vere Portfolio in the United Kingdom, and Jaws Mustang Acquisition Corp (NYSEA: JWSM), a special purpose acquisition company ( Jaws ), today announced that they have signed a non-binding letter of intent ( LOI ) for a potential business combination ( Business Combination ). Under the terms of the LOI, following the consummation of the Business Combination, the combined public company would be listed on a national securities exchange. ....

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