Starwood Completes Sale of W San Francisco to Keck Seng
WHITE PLAINS, NY, July 31, 2009 - 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 14 times the anticipated 2009 EBITDA.
Starwood also entered a long-term management agreement to continue operating the hotel as a W.
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