Press Release 3 November 2008
Starwood Hotels Completes Sale of Three Italian Hotels to Estcapital
WHITE PLAINS, N.Y. | Starwood Hotels & Resorts Worldwide, Inc. (NYSE:HOT) announced today that it has completed the sale of the 196-room Westin Excelsior in Venice Lido, Italy, the 191-room Hotel Des Bains in Venice Lido, Italy and the 31-room Villa Cipriani in Asolo, Italy to Estcapital-SGR S.p.A. for 164 million Euros (approximately USD$212 million).
Starwood Hotels & Resorts Worldwide, Inc. is one of the leading hotel and leisure companies in the world with approximately 900 properties in more than 100 countries and 155,000 employees at its owned and managed properties. Starwood Hotels is a fully integrated owner, operator and franchisor of hotels, resorts and residences with the following internationally renowned brands: St. Regis®, The Luxury Collection®, W®, Westin®, Le Méridien®, Sheraton®, Four Points® by Sheraton, and the recently launched AloftSM and Element SM. Starwood Hotels also owns Starwood Vacation Ownership, Inc., one of the premier developers and operators of high quality vacation interval ownership resorts. For more information, please visit .
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