starwood hotels resorts worldwide inc
Starwood Signs Three New Hotel Deals Becoming First U.S. Hospitality Company to Operate in Cuba
March 21, 2016
HAVANA- March 21, 2016 - Starwood Hotels & Resorts Worldwide, Inc. ("Starwood") (NYSE:HOT) today signed three new hotel deals in Cuba, marking the first U.S. based hospitality company to enter the market in nearly 60 years. This announcement follows receipt of authorization from the U.S. Treasury Department for Starwood to operate hotels in Cuba. Long-time Havana icon, Hotel Inglaterra, will join The Luxury Collection and Hotel Quinta Avenida will become a Four Points by Sheraton. Both hotels will undergo renovations before raising their new brand flags later in 2016. The Company also announced that it has signed a Letter of Intent ...
Starwood Hotels and Resorts Announces Details for Completion of Spin-off and Subsequent Merger of Its Vacation Ownership Business
Starwood Hotels & Resorts Worldwide, Inc. | March 21, 2016
STAMFORD, Conn.- March 21, 2016 - Starwood Hotels & Resorts Worldwide, Inc. (NYSE:HOT) ("Starwood") today announced that its Board of Directors has set a record date of March 28, 2016, for the proposed spin-off of its vacation ownership business, Vistana Signature Experiences, Inc. ("Vistana"). Under the terms of the spin-off, Starwood will distribute all of its shares of Vistana to its stockholders of record as of the record date by means of a stock distribution. As previously announced, immediately following the spin-off, Vistana will merge with a wholly owned subsidiary of Interval Leisure Group, Inc. ("ILG"), as a result of whic...
Starwood Determines Anbang Proposal Superior; Notifies Marriott of Intention to Terminate Merger Agreement
Starwood Hotels & Resorts Worldwide, Inc. | March 18, 2016
Marriott Has Right Until March 28, 2016 to Submit Counterproposal Starwood Stockholder Meeting Postponed STAMFORD, Conn.- March 18, 2016 - Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT) ("Starwood") today announced that it has received a revised binding and fully financed proposal from a consortium consisting of Anbang Insurance Group Co., Ltd., J.C. Flowers & Co. and Primavera Capital Limited (the "Consortium"), that the Starwood Board of Directors, in consultation with its legal and financial advisors, has determined constitutes a "Superior Proposal," as defined in Starwood's merger agreement with Marriott International...
Fitch Revises Marriott’s Outlook to Positive on Starwood Acquisition
Fitch | November 17, 2015
Fitch Ratings-New York-17 November 2015: Fitch Ratings has affirmed Marriott International's (NYSE: MAR) 'BBB' long-term Issuer Default Rating (IDR) and 'F2' short-term IDR and revised the company's Rating Outlook to Positive from Stable. Today's rating actions follow the company's announced acquisition of Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT). Fitch has also affirmed Starwood Hotels & Resorts Worldwide, Inc's 'BBB' IDR and revised the Rating Outlook to Positive from Stable. A full list of the rating actions taken for both companies follows at the end of this release. K...
Starwood Hotels & Resorts Releases 2014 Global Citizenship Report
Starwood Hotels & Resorts Worldwide, Inc. | October 27, 2015
Company Outlines Its Initiatives and Policies according to the latest Global Reporting Index STAMFORD, Conn.--October 27, 2016-- Starwood Hotels & Resorts Worldwide, Inc. (NYSE:HOT) released its 2014 Global Reporting Index (GRI G4), outlining the company's ongoing commitment to sustainability and environmental stewardship, community involvement, opportunities for associate development, and best practices in corporate governance. The Index follows previous publication of a full Global Citizenship report in 2014 and a periodic update earlier this year. "At Starwood, the work we do to be good global corporate citizens touches every asp...
Starwood Sells The Westin Excelsior Rome to Katara Hospitality for $251 million
Starwood Hotels & Resorts Worldwide, Inc. | September 16, 2015
STAMFORD, Conn.--September 16, 2015-- Starwood Hotels & Resorts Worldwide, Inc. (NYSE:HOT) today announced that it has agreed to sell The Westin Excelsior Rome to Katara Hospitality for €222 million ($251 million in USD). As part of the deal, the historic hotel will be renovated in the next five years, including a top-to-bottom transformation of all guestrooms, as well as upgrades to the hotel's public areas. Additionally, as has been the case with other sales of Starwood hotel assets, it will continue to be operated by Starwood under a new long-term management agreement. Adam Aron, CEO of Starwood on an interim basis, said: "On t...
Starwood Hotels and Resorts Appoints Mark Vondrasek to Oversee Commercial Services
Starwood Hotels & Resorts Worldwide, Inc. | August 6, 2015
14-Year Starwood Veteran Chris Holdren Tapped to Lead Digital, Loyalty and Partnerships STAMFORD, Conn.--August 6, 2015-- Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT) today announced that Mark Vondrasek has been promoted to the role of Senior Vice President of Commercial Services. As the leader of this newly created division, Vondrasek, a 14-year Starwood veteran, will oversee the Starwood Sales Organization and Revenue Management globally, in addition to Distribution, Loyalty and Partnerships. "We are fortunate to have a deep bench of talent within Starwood and we are delighted that Mark will take on additional and critica...
