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Starwood Hotels Completes Sale of the W San Francisco to Keck Seng for $90 million (United States)

Starwood Hotels Completes Sale of the W San Francisco to Keck Seng for $90 million (United States)
Category: North America & West Indies / Carribean islands - United States - Industry economy - Group or hotel buyout
This is a press release selected by our editorial committee and published online for free on 2009-08-03

Starwood Hotels & Resorts Worldwide, Inc. (NYSE:HOT) announced today that it has completed the sale of the W San Francisco to Keck Seng Investments (Hong Kong) Limited for $90 million. The sales price represents a multiple of over 14X anticipated 2009 EBITDA. Starwood also entered a long-term management agreement to continue operating the hotel as a W.



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