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Starwood Sells 2 Hotels in New York

While continuing to expand in America and elsewhere, Starwood Hotels & Resorts Worldwide has decided to hand two of its properties over to St. Giles Hotels. Located near Lexington Avenue, the two hotels in New York are being sold as part of Starwood’s real estate disposition strategy.

“In the case of W The Court and W The Tuscany, given that we have a significant, high-profile and growing footprint in New York City, combined with the evolution of the W brand, we made the decision to sell these legacy hotels without the W flag,” said Simon Turner, president of global development at Starwood Hotels & Resorts.

Mr. Turner also says that the company will continue to analyze its positions on the domestic and international markets, and chances are more properties will be sold in the foreseeable future.

Meanwhile, Starwood has announced its plans to build more than 300 hotels in USA and overseas over the next few years. In particular, the company plans to add 100 more hotels in China by 2012. Also, the company has declared its intention to increase its Indian portfolio by 60% by 2013.

20.04.2010

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