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Starwood to Spin Off Vacation Ownership Business

Starwood to Spin Off Vacation Ownership Business

Starwood Hotels & Resorts Worldwide today announced plans to spin off its vacation ownership business, Starwood Vacation Ownership (SVO), into a separate publicly traded company, according to a news release. In addition to accelerating Starwood’s ongoing asset light transformation, the ...

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Ian Schrager Ready to Sell Public Chicago Hotel

Ian Schrager Ready to Sell Public Chicago Hotel

Boutique hotelier Ian Schrager and financial partner Morgan Stanley Real Estate Funds are putting the Public Chicago hotel up for sale less than four years after it opened, according to Crain’s Chicago Business. Schrager told the news outlet that the ...

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Chinese Insurer to Buy Baccarat Hotel for $230 Million

Chinese Insurer to Buy Baccarat Hotel for $230 Million

A Chinese insurer has agreed to purchase the Baccarat Hotel in Midtown Manhattan from Starwood Capital Group for $230 million, the Wall Street Journal reports. Sunshine Insurance Group is paying more than $2 million per room for the luxury property, ...

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ALIS Roundup: New Projects and Announcements

ALIS Roundup: New Projects and Announcements

Nearly 2,800 top industry leaders attended the Americas Lodging Investment Summit (ALIS) in Los Angeles last week, and we were on the scene to uncover the latest hotel news and trends. In between an array of seminars and panels, we ...

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Caesars CEO Gary Loveman to Step Down

Caesars CEO Gary Loveman to Step Down

Caesars Entertainment Corporation has announced that Gary Loveman, chairman and chief executive officer, will begin transitioning management of the company at the end of the first quarter. Loveman will continue to serve as chairman of Caesars Entertainment and of Caesars ...

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