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Stock Market & Financial Investment News

News Breaks
January 28, 2013
06:59 EDTHOTStarwood Hotels upgraded to Buy from Neutral at Janney Capital
Janney Capital upgraded Starwood Hotels due to improving lodging fundamentals and potential asset sales. Price target raised to $67 from $55.
News For HOT From The Last 14 Days
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June 24, 2015
16:11 EDTHOTAshford Hospitality to acquire two hotels in Minneapolis for $101M
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07:03 EDTHOTStarwood, Accenture extent IT outsourcing contract
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June 22, 2015
09:40 EDTHOTActive equity options trading on open
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08:19 EDTHOTThe Luxury Collection invests $300M to grow North America portfolio
The Luxury Collection announced, in coordination with its owner partners, a $300M effort to expand and improve its hotel portfolio in North America. Part of Starwood Hotels & Resorts, The Luxury Collection is investing in marquee hotel conversions and landmark renovations in diverse U.S. destinations, including Key West, Lake Tahoe, San Antonio and San Francisco, as it continues to grow around the world. A milestone year for the brand, The Luxury Collection is on track to surpass 100 hotels in more than 30 countries by the end of 2015.
June 17, 2015
09:00 EDTHOTStarwood commences construction on W, Element dual-branded hotel
Starwood Hotels & Resorts Worldwide announced the commencement of construction for its first-ever W and Element dual-branded hotel development, scheduled to open in the heart of downtown Philadelphia in early 2018. The 295-room W Philadelphia and 460-room Element Philadelphia will occupy a 51 story skyscraper located in the geographic center of the city’s business, arts and retail districts, and directly across from Philadelphia City Hall. Owned by Chestlen Development and developed by Vine Street Matthews Development.
June 16, 2015
07:01 EDTHOTStarwood files Form 10 for planned spinoff of vacation ownership business
Starwood Hotels & Resorts Worldwide announced a key milestone toward the planned spin-off of its vacation ownership business into a separate publicly traded company. Starwood Vacation Ownership, which will be named Vistana Signature Experiences, Inc. upon completion of the spin-off transaction, has filed an initial Form 10 Registration Statement with the SEC. The spin-off will be effected through a pro rata distribution of the new entity’s stock to Starwood stockholders, and is expected to be completed in the fourth quarter of 2015. The spin-off remains subject to the approval of the Board of Directors of Starwood Hotels & Resorts Worldwide, Inc. and the satisfaction of certain other customary conditions, including the effectiveness of the Form 10 Registration Statement. Starwood may, at any time until the closing of the separation, decide to abandon, modify or change the terms of the separation. Starwood has retained Citigroup Global Markets Inc. and Credit Suisse as financial advisers and Latham & Watkins LLP as legal counsel to advise on the planned spin-off.

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