Feb. 23 (Bloomberg) -- Starwood Hotels & Resorts Worldwide Inc. is trying to burnish its W brand, after lenders took back two properties last year, with a $350 million hotel whose future may hinge on Hollywood’s revival as an entertainment hub.
The W at Hollywood Boulevard and Vine Street, which opened Jan. 15, is designed to draw tourists and movie-industry customers at a time room demand is falling and the area is struggling with fewer visitors. The hotel, co-owned by Gatehouse Capital Corp. and run by Starwood, is the W’s “flagship,” said Carlos Becil, a North American vice president for the chain.
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