On Monday, the White Plains, N.Y., company unveiled plans for a lower-priced hotel chain with boutique touches like trendy lounges and guest rooms styled like urban lofts. The new brand will target the limited- or select-service niche of the lodging market. Hotels in this category don't offer the full range of amenities found at bigger hotels and full-service resorts and are less expensive than hotels in the luxury and upper-upscale categories where Starwood's W, St. Regis, Sheraton and Westin brands are concentrated.

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