Starwood Hotels says Sheraton to open 30 hotels over next 12 months Half of the new Sheraton hotels will open in China. Sheraton is also picking up momentum in several other emerging markets including Latin America, the Middle East and Turkey.
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Starwood downgraded to Market Perform from Outperform at Wells Fargo Wells Fargo downgraded Starwood Hotels to Market Perform saying the CEO's capital allocation strategy is disappointing. The firm keeps an $81-$83 price target range for shares.