January 24, 2006 |
Real estate entrepreneur Barry Sternlicht, who founded Starwood Hotels & Resorts Worldwide Inc., said he would start a luxury-hotel chain to compete with high-end properties including St. Regis. The Crillon brand may be opened in cities including London, Rome and New York. The brand will be modeled on the Hotel de Crillon in Paris, which Sternlicht's Starwood Capital Group acquired with its purchase of Societe de Louvre this month. Sternlicht's new brand will be competing with the St.
July 28, 1997 |
Starwood Lodging Trust, the nation's largest hotel real estate investment trust, may agree to buy Westin Hotels & Resorts this week, people familiar with the talks said. Seattle-based Westin could fetch as much as $1.5 billion in a sale, analysts said. Buying Westin would give Starwood Lodging a well-known upscale hotel brand to affix to its string of more than 100 hotels. Starwood Lodging wants its own brand to save costly franchisee fees it pays for other hotel flags.
April 7, 2006 |
A group of private investors has agreed to buy hotel-casino operator Riviera Holdings Corp. for $211.5 million, with an eye on the company's Las Vegas Strip property, the company said Thursday. The investment group, Riv Acquisition Holdings Inc., will pay $17 a share. Shares of Las Vegas-based Riviera rose 80 cents Thursday to $18.94.
September 22, 2004 |
Starwood Hotels & Resorts Worldwide Inc., operator of the Sheraton, Westin and W Hotels brands, has named former Coca-Cola Co. President Steven J. Heyer as chief executive to succeed company founder Barry S. Sternlicht, effective Oct. 1. The firm said Sternlicht would assume the position of executive chairman, reducing his day-to-day role to focus on long-term strategies for the firm as well as capital investment and real estate matters. Shares of Starwood rose $1.69 to $46.26 on the NYSE.
July 20, 1999 |
Starwood Hotels & Resorts Worldwide Inc., the world's largest hotel owner, agreed to buy Vistana Inc. for about $645 million in cash, stock and assumed debt, to enter the time-share resort business. White Plains, N.Y.-based Starwood said it will pay $19 a share, 10% more than Vistana's closing price Friday. Vistana holders would receive $5 a share in cash and the rest in Starwood stock. Starwood also would assume about $240 million of debt. Orlando, Fla.
November 20, 2001 |
WCB Properties and Starwood Capital Group bought an office and retail complex in San Diego for $71 million, one of the largest office property sales in the metropolitan area this year. The two firms purchased the 389,000-square-foot Hazard Center, in the city's Mission Valley area, from Connecticut General Life Insurance, according to broker Cushman & Wakefield, which represented the seller. The property's 15-story, granite-clad office tower is fully leased, with such tenants as Aetna Inc.