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The trust hopes to raise a total of $115.2 million in the offering, expected to close Tuesday. The proceeds will be used to for pay down debts and to buy hotels, the trust's statement said. The trust's stock hit $20.25 a share, a new 52-week high, in
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N.Y. — Starwood Hotels & Resorts Worldwide Inc. said Monday that it closed on its $100 million sale of Bliss spas to Steiner Leisure Ltd. The hotel and leisure company said the sale, which was announced in November, will allow it to concentrate
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DB Hospitality, part of the Mumbai- based real estate developer DB Group, will invest around Rs 5,500 crore to build nine hotels across India by 2014, a top company official said. "We plan to have a minimum of 12 properties by 2014. We plan to set up
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There are two things to note about Frits van Paasschen, boss of Starwood, the world’s second-biggest hotel group by market value. First, he is clearly an optimist — why else would he be opening 90 hotels a year in the middle of the worst recession
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Ltd., belonging to the Mumbai-based DB Group, has signed an agreement with Hyatt International. This agreement marks DB Group’s expansion of its portfolio of hotel assets in India...DB Hospitality is developing The Grand Hyatt Goa, The Grand Hyatt
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Interstate Hotels & Resorts (IHR.N) said it agreed to be bought by Hotel Acquisition Company LLC in an all-cash deal valued at $307 million, sending its shares up as much as 76 percent. Hotel Acquisition Co, a joint venture between subsidiaries of
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