Sale of Starwood Hotels continues in $1 billion package
Starwood Hotels plans to sell up to 18 properties worth up to $1 billion as part of its strategy to rely more on hotel management and less on property ownership.
Starwood intends to sell the so-called non-strategic hotels over the next year to 18 months, company officials told the media.
The company has already sold more than $5 billion in properties over the last year and a half.
Starwoods also plans a new marketing campaign for each of its eight brands.
But at the same time, Starwoods is also acquiring other properties, most recently the Le Meridien chain. Officials said the group will see future brisk growth in North America, where 40 new hotels are expected.
“We will see an explosion of growth in the next few years,” said Michael Wale, senior vice president of Le Meridien operations.
Six new Le Meridiens are planned to open worldwide this year and eight more within the next two years. Another 84 are planned in the near future.
Mr. Wale said the chain expected to unveil some creative new options, including a 24-hour restaurant with “brasserie style” food.
Report by David Wilkening
David
Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know
Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham
Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago
Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research
Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact
Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference
Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role
Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal
Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
ADS PRO 
Global tourism exceeds 1.5 billion travelers announces UN-Tourism
Qatar Airways offers reduced timetable to over 60 destinations
WTTC global tourism reached record economic impact of 11 trillion in 2025
Hands In, UATP join forces for airline multi-card payments
Suspension of all regional trains in Catalonia following two new rail accidents in Spain