Starwood Hotels debuts Element brand in Bozeman Starwood Hotels & Resorts announced plans to debut its Element brand in Bozeman. Element Bozeman will open in June of 2015. Element Bozeman expects to receive LEED certification soon after opening from the U.S. Green Building Councilís Leadership in Energy and Environmental Design.
Starwood sells Sheraton on the Park in Sydney, Australia for $399M Starwood Hotels announced it has sold Sheraton on the Park in Sydney, Australia to Sunshine Insurance Group Corporation for $399M. Starwood will continue to operate the hotel as a Sheraton under a long-term management contract.
Starwood downgraded to Neutral from Buy at UBS UBS downgraded Starwood Hotels to Neutral on signs that RevPAR growth peaked in Q3. The firm adds that Starwood has the most exposure to the slowing high end of the market. It lowered its price target for shares to $79 from $86.