Starwood Hotels & Resorts Announces Retention of Ownership of Two Fiji Hotels

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Starwood Hotels & Resorts Announces Retention of Ownership of Two Fiji Hotels
Starwood Hotels & Resorts Announces Retention of Ownership of Two Fiji Hotels
Category: North America & West Indies / Carribean islands This is a press release selected by our editorial committee and published online for free on 2006-07-10 Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT) ("Starwood") announced that it will retain ownership of two hotels in Fiji that were part of the original portfolio of 35 hotels to be sold to Host Hotels & Resorts, Inc. and were not included in previous closings as a result of certain notice periods and consents not having been received. Both parties mutually agreed to cease pursuing the consents to permit the consummation of the transaction and that these assets, the Sheraton Fiji Resort and The Westin Royal Denarau Island Resort and Spa, would remain with Starwood.