Starwood Hotels says Sheraton Hotels poised for 'record-breaking growth' Starwood Hotels & Resorts Worldwide announced from the Sheraton Hotels General Manager Summit in Seattle that its largest and most global brand is poised for record-breaking growth over the next 12 months with 35 new hotels expected to open. Nearly half of the new Sheraton hotels will open in China. Sheraton will also enter numerous new markets including Samoa, Tajikistan and Kazakhstan, and return to Iraq.
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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.