Starwood board increases share repurchase authorization to $1.5B Starwood Hotels & Resorts Worldwide announced that its board approved a new $1.1B share repurchase authorization. Including approximately $400M remaining under the prior authorization, Starwood’s total share repurchase authorization is now approximately $1.5B. Starwood has repurchased approximately $200M of shares to date in 2014 and expects to accelerate the pace of its repurchases.
Starwood Hotels November volatility elevated into Q3 and outlook Starwood Hotels November call option implied volatility is at 29, December and January is at 27; compared to its 26-week average of 22 according to Track Data, suggesting larger near term price movement into the expected release of Q3 results on October 28.
Starwood announces sale of The St. Regis for $150.7M Starwood Hotels & Resorts Worldwide announced that it has sold The St. Regis, Rome to subsidiaries of Constellation Hotels Holding Limited for approximately $150.7M. Starwood will continue to operate the hotel under the St. Regis brand flag as part of a new long-term management agreement.