Friday, July 31, 2009

Starwood Hotels Completes Sale of the W San Francisco to Keck Seng for $90 million

WHITE PLAINS, N.Y.--(BUSINESS WIRE)--Starwood Hotels & Resorts Worldwide, Inc. (NYSE:HOT) announced today that it has completed the sale of the W San Francisco to Keck Seng Investments (Hong Kong) Limited for $90 million. The sales price represents a multiple of over 14X anticipated 2009 EBITDA. Starwood also entered a long-term management agreement to continue operating the hotel as a W

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