Starwood Hotels & Resorts Worldwide. (North America).(to franchise Luxury Collection hotels)(will sell 14 domestic hotels)(Brief Article)

Hotels, July, 2003 by Strauss, Karyn; Weinstein, Jeff

Starwood Hotels & Resorts Worldwide, White Plains, New York, intends to begin franchising its Luxury Collection of hotels and is targeting independent hotels worldwide as well as third-party developers. Starwood's aim is to offer these independent operators the sales and marketing advantages enjoyed by Starwood's other brands, like its guest loyalty program, and looks to be forming a new consortia with its Luxury Collection, which comprises 74 hotels.

In unrelated news, Starwood has agreed to sell 14 non-strategic, domestic hotels to a group of investors for US$312 million and is negotiating in the sale of four additional properties. Starwood will use the proceeds of the sale to pay down debt.

Karyn Strauss, Associate Editor...

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