Starwood Hotels & Resorts to divest assets worth up to $3B

04/4/2013 | Bloomberg Businessweek

Frits van Paasschen, CEO of Starwood Hotels & Resorts, announced that the hotel firm is looking to divest itself of hotel properties worth a total of $2 billion to $3 billion in the next two or three years. The move is part of Starwood's push away from property ownership toward a more management-centric strategy, reflecting its focus on management fees as a revenue source.

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