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News Breaks
June 18, 2014
07:31 EDTMAR, HOT, HJPMorgan sees further upside to lodging stocks
JPMorgan believes the positive RevPAR growth cycle in the lodging space has further room to run as do the stocks in the sector. The firm raised its price target for Marriott (MAR) shares to $70 from $65, for Starwood (HOT) to $87 from $85 and for Hyatt Hotels (H) to $66 from $63. JPMorgan keeps Overweight ratings on all three names.
News For MAR;HOT;H From The Last 14 Days
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October 1, 2014
16:09 EDTHInterval Leisure Group completes acquisition of Hyatt Residential Group
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15:13 EDTHOTStarwood volatility increases as shares pullback
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13:18 EDTMARChesapeake Lodging acquires JW Marriott San Francisco Union Square
Chesapeake Lodging Trust (CHSP) announced that it has closed on the previously announced acquisition of the JW Marriott San Francisco Union Square for a purchase price of $147.2M, or approximately $437,000 per key. The Trust assumed the existing management agreement with Marriott International (MAR), as well as the existing ground lease covering the property, which expires in 2083.
September 30, 2014
08:03 EDTHOTStarwood to relocate global HQ to India in March 2015 for month-long immersion
Starwood Hotels & Resorts Worldwide announced that it will relocate its global headquarters from the United States to India in March 2015 for a month-long immersion. Starwood President & CEO Frits van Paasschen and the company’s top executives will split their time between Mumbai and Delhi, conducting day-to-day business from this important global destination with immense potential for outbound travel. Following the company’s successful relocations to China in 2011 and Dubai in 2013, this third leadership move underscores Starwood’s unique approach to cultivating a global culture and fostering relationships in key growth markets.
September 29, 2014
10:40 EDTHOTStarwood to launch W brand in Marrakech in 2017
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09:40 EDTHOTStarwood debuts Luxury Collection Castle Hotel
The Luxury Collection, part of Starwood Hotels & Resorts Worldwide announces the opening of Castle Hotel, a Luxury Collection Hotel, Dalian. Owned by the Dalian Yifang Group and managed by Starwood Hotels & Resorts, Castle Hotel marks Luxury Collection’s first hotel in Liaoning, China.
September 26, 2014
17:22 EDTHOTStarwood Hotels expands presence in Nigeria with the signing of Four Points
Starwood Hotels & Resorts Worldwide announced the signing of Four Points by Sheraton Ikot Ekpene, a new build hotel scheduled to debut in 2015. Owned by the Akwa Ibom State Government, Four Points by Sheraton Ikot Ekpene marks Starwood’s 10th hotel in Nigeria and second hotel in the state of Akwa Ibom, after Le Meridien Ibom Hotel & Golf Resort.
September 18, 2014
17:29 EDTHHyatt Hotels announces sale of 38 select service hotels for $590M
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