Article: ITT Sheraton and Arabella Hotels to Form Joint Venture Partnership in Germany

BOSTON, Nov. 10 /PRNewswire/ -- Dan Weadock, President and Chief Executive Officer, ITT Sheraton Corporation, a wholly owned subsidiary of ITT Corporation (NYSE: ITT), announced today that ITT Sheraton has signed a memorandum of understanding to form a joint venture partnership to manage, operate and develop hotels and resorts in Germany, Switzerland and Spain with Arabella Hotels, a company belonging to the German-based Schoerghuber Group.

The Schoerghuber Group, headed by Stefan Schoerghuber, is one of Germany's largest and most successful private companies with ranging interest in real estate development, construction, breweries, beverages, restaurants, ...

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