May 16, 1995 |
Aoki May Sell More Hotels: The Japanese company, looking to reduce debt, is considering selling some or all of its 28 remaining hotels after closing its previously announced deal to sell Westin Hotel Co. for $537 million to an investment group led by Goldman, Sachs & Co. and Starwood Capital Group. The sale involves full or partial ownership of 13 hotels in the United States and contracts to manage another 60 worldwide. Aoki Corp. retains nine U.S.
May 29, 2010 |
A group of investors won a bankruptcy auction for hotel chain Extended Stay Inc. with a $3.9-billion bid, two people familiar with the matter said Friday. Extended Stay, which filed for bankruptcy protection last June, selected the proposal by Paulson & Co., Centerbridge Partners and Blackstone Group over a rival bid from Starwood Capital Group and TPG Capital after an all-night auction, the people said. The two groups were competing for months to invest in Extended Stay and its portfolio of more than 600 hotels.
November 30, 1994 |
When the Aoki Corp. of Japan announced the sale of its Westin Hotel Co. division last week, the 390-room Westin South Coast Plaza was included on the list of properties slated for an ownership change. But Westin officials said Tuesday that the Costa Mesa hotel is not among the properties to be sold. On Friday, Westin issued a statement saying that the hotel was one of 13 properties being sold to an investor group.
December 7, 2002 |
A Goldman Sachs Group Inc. fund and Starwood Capital Group Inc. named Roland Smith chief executive of National Golf Properties Inc. and an affiliate, which the two funds are acquiring for $1.1 billion. Smith, 48, resigned as president and chief executive of AMF Bowling Worldwide Inc. to lead Santa Monica-based National Golf and American Golf Corp. Shares of National Golf rose 20 cents to $11.62 on the NYSE.
April 29, 2005 |
Starwood Hotels & Resorts Worldwide Inc., Starwood Capital Group and investment bank Lehman Bros. said they would buy the Le Meridien chain of high-end hotels in a long-expected deal. That news came just hours after Marriott International, Sunstone Hotel Investors and Walton Street Capital said they would buy 32 hotels and joint ventures from CTF Holdings Ltd. in a $1.45-billion deal.
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.