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Marriott Reaffirms Commitment to Starwood Deal

Marriott Reaffirms Commitment to Starwood Deal

BETHESDA, Md.—Marriott International today reaffirmed its commitment to acquire Starwood Hotels & Resorts Worldwide, confident that the previously announced amended merger agreement is the best course for both companies. The combined company will offer stockholders significant equity upside and greater ...

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Thompson Miami Beach to Join Hyatt’s Unbound Collection

Thompson Miami Beach to Join Hyatt’s Unbound Collection

CHICAGO—Hyatt Hotels Corporation today announced that a wholly-owned subsidiary has entered into an agreement to purchase the 380-room Thompson Miami Beach hotel from an affiliate of Geolo Capital. The transaction is expected to close in late April, and the hotel ...

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New Starwood Offer Might Delay Marriott’s Ratings Momentum

New Starwood Offer Might Delay Marriott’s Ratings Momentum

NEW YORK—Fitch Ratings continues to see positive ratings momentum for Marriott International stemming from its planned merger with Starwood Hotels & Resorts. However, less creditor friendly financial terms associated with Marriott’s revised offer for Starwood increases execution risk and will ...

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WaterWalk Inks $150 Million Deal with Rockford Development

WaterWalk Inks $150 Million Deal with Rockford Development

WICHITA, Kan.—WaterWalk Hotel Apartments, Jack DeBoer’s fifth national brand, has executed an agreement with a Rockford Development Group venture, led by Paul Roberts of Rockford and hotel industry veteran Rob Mossburg, to initially develop eight WaterWalk franchises. The properties will ...

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Robust 2015 Hotel Performance Masks Softening

Robust 2015 Hotel Performance Masks Softening

The U.S. lodging sector set a record for revenue per available room (RevPAR) of $78.671 in 2015 as a result of all-time highs in occupancy (65.6 percent) and average daily rate (ADR of $120.01). The 2015 RevPAR represents 6.3 percent ...

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